Record-Setting Year Shaped by Third-Party Risk Management Innovation, Demand for Cybersecurity Program Management Tools
CONCORD, Mass., Jan. 25, 2022 (GLOBE NEWSWIRE) -- ProcessUnity, a leading provider of cloud-based applications for risk and compliance management, today announced that it ended 2021 with record-setting success. Fueled by demand for its world-class Vendor Risk Management platform and the market’s growing need to implement internal Cybersecurity Program Management practices, ProcessUnity set new marks for new customer acquisition and growth at existing customers.
“Cybersecurity and third-party risk are the two most critical risks organizations face today. Companies are realizing that internal cyber practices alone are not enough to prevent breaches and ransomware attacks. Next-generation cybersecurity programs combine internal controls and best practices with an equal focus on assessing external vendors, suppliers and third parties to address risk from all angles.” said Sean Cronin, CEO of ProcessUnity. “ProcessUnity is uniquely positioned to support customers’ procurement and cybersecurity program requirements. We work closely with our customers to evolve our capabilities and our team continues to deliver innovative solutions and make customers successful. Market-recognition continues to increase, which is driving even more success.”
ProcessUnity’s 2021 highlights include:
Vendor Risk Management Market Leadership Recognition: ProcessUnity Vendor Risk Management was recognized by Gartner® for IT Vendor Risk Management. For the fourth consecutive year, ProcessUnity received the highest score for “Ability to Execute” in the Gartner Critical Capabilities for IT Vendor Risk Management. Gartner also placed ProcessUnity in the “Leader” quadrant of the Gartner Magic Quadrant ™ for IT Vendor Risk Management Tools for the third consecutive year.
Industry-Leading Platform Innovation: ProcessUnity unveiled enhancements to its flagship Vendor Risk Management platform, including the Vendor Intelligence Suite (VIS). This collection of targeted vendor intelligence allows risk teams to enhance their third-party risk management due diligence with cybersecurity ratings, financial health ratings, ESG scores and more.
Cybersecurity Program Management Expansion: ProcessUnity Cybersecurity Program Management introduced capabilities to help organizations prioritize internal cybersecurity priorities and map controls across multiple frameworks, regulations and standards. The platform’s capabilities, combined with ProcessUnity’s subject matter expertise, allow companies to manage both internal and external cybersecurity risk more effectively.
Significant Growth Investment: ProcessUnity received a majority-control growth investment from Marlin Equity Partners (“Marlin”), a global investment firm with over $8.1 billion of capital commitments under management, allowing the company to expand internationally, accelerate product development and invest in its talented team. Marlin’s investment places ProcessUnity on an exciting growth trajectory for 2022 and beyond.
Expanded Partner Ecosystem: ProcessUnity partners continued to win new business through its expanding partner community. Leading assurance and consulting firms in all market tiers are building managed-service offerings powered by the ProcessUnity platform.
Virtual Customer Summit: Over 75 people attended the 2021 ProcessUnity virtual customer summit, held to connect customers, product experts and industry leaders on third-party risk and cybersecurity innovation. The thought leadership event featured customer case studies, expert panel discussions and product deep dives to share best practices for Vendor Risk Management and Cybersecurity Program Management.
Top Workplaces Award: ProcessUnity was named a Top Place to Work by the Boston Globe for the second time in three years. Top Places to Work recognizes the most admired workplaces in the state voted on by the people who know them best—their employees. The survey measures employee opinions about their company’s direction, execution, connection, management, work, pay and benefits, and engagement.
“ProcessUnity’s success in 2021 was not possible without our tremendous team,” said Sean Cronin, CEO. “We attract world-class talent focused on collaboration, innovation and ultimately, customer satisfaction. I’m proud to work with such a great group of people and can’t wait to see what we do in 2022.”
ProcessUnity is a leading provider of cloud-based applications for risk and compliance management. The company’s software as a service (SaaS) platform gives organizations the control to assess, measure, and mitigate risk and to ensure the optimal performance of key business processes. ProcessUnity is used by the world’s leading financial service firms and commercial enterprises. The company is headquartered outside Boston, Massachusetts. For more information, visit https://www.processunity.com/.
CONTACT: ProcessUnity Contact Sophia Corsetti 978.364.3892 firstname.lastname@example.org