Illinois-Based Startup Launches New Function in No-Code GRC Platform After Raising $113M in Latest Funding Round
Risk software startup LogicGate has announced a new feature that will allow users of its Risk Cloud GRC platform to more clearly connect risk factors to monetary value. The company says Risk Cloud Quantify will give users clearer insight into the value of risk management programs by replacing imprecise labels like “high,” “medium” and “low” with real dollar amounts.
“Over the past two years, we’ve spoken to an increasing number of customers that desire to use more quantitative data as part of their holistic risk management programs to help better communicate risk to senior leadership and the board,” said Jon Siegler, LogicGate’s chief product officer. “Risk Cloud Quantify helps our customers improve risk-based decision making and communicate risk across their entire organization more effectively by speaking the same language as the rest of the business.”
Risk Cloud Quantify was developed using the Open FAIR model to help users quantify risks beyond cybersecurity use cases and approach risk management as a revenue generator. Illinois-based LogicGate recently announced it had raised $113 million in its latest funding round, bringing its total to $156 million, and its Risk Cloud platform features low-code/no-code tools.
LogicGate’s Risk Cloud platform and Risk Cloud Exchange (RCX) allow companies to manage GRC processes via a no-code, agile platform. For more information, visit LogicGate.com or follow LogicGate on LinkedIn and Twitter at @LogicGate.