During the 18 months program, CYRATING will benefit from ParisTech Entrepreneurs' portfolio of services such as coaching, access to organizations supporting innovation and financing, the extensive ParisTech network, its researchers and labs, alumni and recent graduates.
CYRATING offers organizations to evaluate their cybersecurity performance and effectiveness. By positioning itself as a trusted third party, it responds to the need of companies to analyze their cyber risk objectively. It also allows them to position themselves regarding their competitors.
In the cybersecurity industry, the start-up CYRATING intends to play a role often requested by the organizations, but never provided until now: that of a trusted third party. The young agency incubated last September 2017 at ParisTech Entrepreneurs proposes to evaluate the performance of public and private companies on their cybersecurity. The rating thus allows them to position themselves in relation to their competitors, but also to define the points to improve, or to identify the level of cybersecurity of their subsidiaries and suppliers.
Whatever the company, the start-up bases its evaluation on the same criteria. This provides objective ratings that do not depend on the size or structure of the organization. "For example, we look at the level of protection of domain names, websites, e-mail services, etc." says François Gratiolet, co-founder of CYRATING. Criteria that he names "facts", and which are complemented by an analysis of "events", such as a data leak or hosting of malwares on an internal server.
To achieve this rating, CYRATING processes a set of observable data to highlight facts and events related to cybersecurity in the organization. These facts and events are evaluated against best practices in order to obtain a rating. From scoring algorithms, metrics and scores are calculated automatically, as well as the overall score of the organization. Thus, the organizations evaluated by CYRATING have a visibility on their effectiveness in the various cybersecurity domains, in addition to having an overall score. This allows them to identify controls to be implemented immediately to improve their protections, thus optimizing the allocation of financial and human resources.
Unlike audit firms or consulting firms, CYRATING does not require any intervention in the services or premises of the organizations. No software or hardware installation is required. In addition, the service is based on the principle of a subscription. The rating is continuous throughout the subscription period. Organizations can immediately see the impact of their actions in cybersecurity through the evolution of the rating.
The venture is the first of its kind in Europe. In Europe and around the world, few start-ups provide such a similar service. « It's a booming business in the United States » says François Gratiolet. This precociousness on the European market is an opportunity for CYRATING, whose activity relies on a scalable and powerful platform and a rating process: the more the company has evaluated organizations for a long time, the more interesting it is to use its rating system. The start-up offer will be launched commercially in January 2018 at the FIC, the European largest cybersecurity fair. In the course of its development and its use cases - quite recent since CYRATING has only a few weeks - it has already evaluated several hundred companies. "In a year, we should be at more than 50,000 rated organizations" predicted the co-founder.
The service of CYRATING firstly attracts large corporations and SMEs. "They see an opportunity to measure the performance of their suppliers and their subsidiaries and optimize their audit campaigns" explains François Gratiolet. But the service could also interest insurers, or agencies wishing to purchase pools of data for statistical purposes. By positioning itself as a trusted third party, the start-up could quickly become a major player in cybersecurity in France and Europe.
About ParisTech Entrepreneurs
The incubator ParisTech Entrepreneurs structures and supports innovative digital projects in France since 1999. It is the first French digital incubator in number of start-ups created. Distributed on two sites, in Paris and Sophia Antipolis, its teams offer project managers personalized support over 18 months, easier access to organizations supporting innovation and financing and of course the ParisTech network, its researchers and laboratories, alumni and recent graduates. Backed by Telecom ParisTech school, the incubator maintains privileged relations with the alumni of the school but is open to all project leaders.
CYRATING is the pioneer cybersecurity rating agency established in Europe. CYRATING evaluates the cybersecurity performance of organizations using objective and independent ratings. CYRATING provides through its web platform the ratings of organizations, their subsidiaries and their vendors or partners, as well as their positioning in their respective industry.
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