What ThirdPartyTrust does

ThirdPartyTrust was a Chicago-based third-party risk management (TPRM) platform founded in 2014 that enabled enterprises to manage and continuously monitor their vendor ecosystems. Prior to its acquisition, the company operated with a small team of 1-10 employees and had raised approximately $4.95 million across seed and early-stage rounds between 2016 and 2020, with investors including gener8tor, SixThirty, Cultivation Capital, and Capital Midwest Fund.

Following its acquisition by Bitsight Technologies, Inc. (NYSE: BITS), ThirdPartyTrust's capabilities have been integrated into Bitsight's broader cybersecurity platform. The combined offering provides an end-to-end TPRM solution that delivers continuous monitoring and response throughout the entire vendor lifecycle. The platform combines an AI attribution engine with security researchers and real-time discovery of networks, assets, and vulnerabilities to produce one of the largest mapped risk datasets in the industry, supporting modules such as Third-Party Continuous Monitoring & Response, Vendor Risk Management, Security Ratings, Security Posture Management, Supply Chain Exposure Management, Trust Management Hub, and Dark Web Intelligence for Supply Chains.

The business operates on an enterprise subscription model with quote-based annual contracts sold through direct field sales targeting security and risk teams at large global organizations. Strategic partnerships with Moody's (cyber risk data for capital markets) and Microsoft (threat intelligence integration) extend distribution and data capabilities. The platform has been certified for favorable contract terms via TermScout and has earned Gartner and Forrester analyst recognition for Bitsight-level cybersecurity ratings and threat intelligence capabilities.

Name

ThirdPartyTrust

Legal name

BitSight Technologies, Inc.

Website

https://thirdpartytrust.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

ThirdPartyTrust was a Chicago-based TPRM platform enabling enterprises to continuously monitor vendor security postures. Now acquired by Bitsight Technologies (NYSE: BITS), it is integrated into Bitsight's end-to-end third-party risk management solution for enterprise security and risk teams.

Ownership category

akta.pro rank

Product category

Third-Party Risk Management

akta.pro primary industry

Third-Party/Vendor Risk Management (TPRM/VRM) (HDADAIAE)

akta.pro secondary industries

Third-Party/Vendor Risk Management (TPRM) & Due Diligence (BPAKADAH), Third-Party/Vendor Risk & Due Diligence (TPRM, continuous monitoring) (FSAGAFAJ), Third-Party & Supply Chain Exposure Monitoring (HDADAHAJ)

Keywords

• Third-party risk management
• Vendor risk management
• Continuous security monitoring
• Supply chain security
• Security ratings

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. TPRM Software Subscription: ThirdPartyTrust operates as part of Bitsight's cybersecurity platform, offering third-party risk management solutions on a subscription basis. The platform provides continuous monitoring and response capabilities for enterprise customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

ThirdPartyTrust provides a Third-Party Risk Management (TPRM) platform that enables enterprises to continuously monitor and assess the security posture of their vendor ecosystems throughout the entire vendor lifecycle. Following its acquisition by Bitsight, the offering is delivered as part of Bitsight's end-to-end TPRM suite, combining AI-driven risk attribution with real-time vendor network discovery and security ratings.

Product overview

ThirdPartyTrust has been acquired by Bitsight and operates as an integrated component of Bitsight's end-to-end Third-Party Risk Management (TPRM) solution. The offering combines ThirdPartyTrust's continuous monitoring capabilities with Bitsight's broader cybersecurity platform. The core TPRM solution includes Third-Party Continuous Monitoring & Response and Vendor Risk Management modules, which deliver real-time insights throughout the entire vendor lifecycle.

Differentiator

Problem solved

Functional benefit

Products and services

• Third-Party Continuous Monitoring & Response Provides real-time monitoring and response capabilities for third-party vendor relationships across the entire vendor lifecycle, enabling enterprise security teams to detect and address vendor risk continuously.
• Vendor Risk Management Manages and assesses vendor risk profiles, enabling organizations to evaluate, score, and monitor third-party security posture as part of their TPRM program.

Quantifiable outcome

• 297% ROI for security leaders (Forrester TEI study)

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Moody'scoreStrategic or Co-development PartnerBitsight has a partnership with Moody's for providing cyber risk data for capital markets. The partnership enables integration of Bitsight's cybersecurity ratings and risk analytics with Moody's credit risk assessment and capital markets data capabilities.
• MicrosoftcoreTechnology or IntegrationBitsight has a partnership with Microsoft for cybersecurity threat intelligence and risk management integration. The partnership provides joint customers with enhanced security visibility and risk assessment capabilities through Microsoft security platforms.

Scale indicators1 record

Recent moves6 records

Expansion highlights6 records

Direct peers

• ProcessUnity: ProcessUnity is a TPRM workflow platform focused on vendor onboarding, due diligence, assessments, and ongoing monitoring. It competes directly with ThirdPartyTrust's vendor risk management and continuous monitoring capabilities, especially for organizations prioritizing configurable TPRM workflows over ratings.
• OneTrust: OneTrust is a broad trust intelligence platform that includes a TPRM module covering vendor assessments, continuous monitoring, and risk exchange. It competes with ThirdPartyTrust for the same enterprise GRC and security buyers, with overlapping continuous monitoring and due diligence features.
• Prevalent: Prevalent is a TPRM platform that combines vendor questionnaires, threat intelligence-driven continuous monitoring, and vendor lifecycle management. It is a direct competitor in the mid-market and enterprise TPRM space with a comparable end-to-end vendor risk proposition.
• Whistic: Whistic is a TPRM platform that offers a vendor security assessment exchange (Trust Catalog) along with continuous monitoring and proactive vendor outreach. It is a direct competitor for organizations prioritizing vendor self-service and a security-centric TPRM workflow.
• Black Kite: Black Kite provides third-party cyber risk intelligence using standards-based ratings (e.g., FAIR, MITRE) and external attack surface analysis. It is a direct competitor in the TPRM and supply chain risk monitoring category, targeting enterprise risk and security teams.
• Venminder: Venminder is a TPRM platform that combines vendor assessments, ongoing monitoring, contract management, and managed services. It is a direct competitor in the TPRM space, especially for organizations that want guided or outsourced vendor risk programs alongside software.
• Panorays: Panorays delivers third-party security risk management combining external attack surface assessments, automated questionnaires, and remediation workflows. It is a direct competitor focused on speed and automation, appealing to enterprise buyers evaluating TPRM platforms.
• UpGuard: UpGuard provides third-party risk and attack surface management, including vendor security ratings, continuous monitoring, and vendor questionnaires. It is a direct competitor in the TPRM space, particularly for mid-market and enterprise customers seeking an end-to-end vendor risk workflow.
• SecurityScorecard: SecurityScorecard is a leading cybersecurity ratings and TPRM platform that scores vendor security posture and supports vendor risk workflows. It is the most direct competitor to ThirdPartyTrust, competing for the same enterprise security and risk buyers with similar security ratings, continuous monitoring, and questionnaire-based TPRM capabilities.
• RiskRecon (a Mastercard company): RiskRecon delivers continuous vendor security monitoring and risk prioritization based on external attack surface data. Acquired by Mastercard, it competes directly with ThirdPartyTrust in continuous TPRM monitoring, particularly in financial services and regulated industries.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/ThirdPartyTrust
• YouTubeyoutube.com/channel/UCQK4819a_k18f2GGC3Fkv8g
• Facebookfacebook.com/BitSight
• LinkedInlinkedin.com/company/2695597
• Instagraminstagram.com/bitsight

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds3 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ThirdPartyTrust