Glasswing + NormShield: Strengthening the Enterprise Security Chain with Third-Party Risk Intelligence, Powered by Machine Learning

By Rick Grinnell, Founder and Managing Partner, Glasswing Ventures

We are very excited to announce that NormShield, a provider of third-party risk intelligence, is now a part of the Glasswing portfolio. Third-party risk has been a notoriously weak link in the enterprise security chain for years. The Ponemon Institute 2018 Data Risk in the Third-Party Ecosystem study revealed that 59 percent of all corporate data breaches were caused by a third party, not the business itself.

NormShield’s on-demand cyber risk scorecards provide security and compliance teams with the vital information they need to evaluate which third-party partners and stakeholders present the greatest risk -- and most importantly, actionable steps that partners can take to mitigate these risks. Unlike competing solutions that have been in the market for years, NormShield leverages advances in data science and machine learning to provide higher frequency and precise real-time risk assessments, allowing organizations to have better visibility into the risks they face. These technology advances were one of the core drivers of Glasswing’s interest in the company.

As with all of our investments, the quality of the team and their performance in 2018 ultimately led us to invest. Founders Mohamoud Jibrell (CEO) and Candan Bolukbas (CTO) were able to build an impressive, high-growth business on virtually no outside capital. During the diligence process, the CISOs, CROs, and executives that we introduced to NormShield either became customers or wanted to join the company! The NormShield team has a compelling story to tell, and we are thrilled to be a part of the upcoming chapters alongside our syndicate partner Data Point Capital.

You can read today’s news here and NormShield’s blog here.