Upon joining forces, the two companies will operate as one entity under the Riskonnect brand.
Built In July 12, 2022
Unpredictability is a given in life. In most situations where anything can happen, people tend to take precautions. For businesses, taking such measures may be vital to keeping their data systems safe. Specializing in integrated risk management (IRM), technology company Riskonnect works to protect organizations against potential threats. The company is building out its solution with tech from Castellan Solutions following its latest acquisition.
Riskonnect works to give enterprise customers visibility into their risk exposure, or the number of hazards that could threaten their organization. Augmenting this capability, the company is incorporating Castellan’s business continuity and operational resilience capabilities into its platform.
“As recent events have shown us — the pandemic, supply chain shortages, inflation, a potential recession, etc. — businesses can face a large number of risks at any given time,” Andrea Brody, Riskonnect’s CMO, told Built In via email. “It’s critical for organizations to have a complete view of risk under one roof so they can view risk impacts holistically, prepare for and mitigate potential threats and ensure business continuity and enterprise resilience when issues arise.”
Castellan aims to help companies strike the right balance between risk tolerance and resilience with solutions for consulting, software and managed services. Its platform helps companies identify hidden vulnerabilities and program gaps that could thwart the execution of their response and recovery strategies, according to Brody. Currently serving over 750 businesses across 30 countries, the company will be able to provide customers with more risk and compliance offerings upon combining with Riskonnect’s tech.
“Castellan’s emphasis on business continuity and resilience is a natural fit with Riskonnect’s goal of giving customers complete visibility into risk exposure and transforming the way they manage and respond to risk,” Brody said.
Following the acquisition, the two companies will operate as one entity within the Riskonnect brand, and Castellan’s tech will integrate directly into Riskonnect’s platform. Riskonnect’s customer base will gain access to Castellan’s business continuity and resilience management tools, and Castellan’s customers will benefit from Riskonnect’s expanded IRM product capabilities as well as its global support infrastructure and multi-industry expertise.
This deal is the latest in a string of acquisitions for Riskonnect spanning the last two and a half years, following most recently after the company’s acquisition of Sword GRC back in February.
In addition to bringing on Castellan’s 130-person team, Riskonnect is hiring across departments including R&D, sales, marketing and customer success.
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