Board of Cyber

What Board of Cyber does

Board of Cyber is a French SaaS cybersecurity company headquartered in Sèvres that develops cyber rating and Third-Party Risk Management (TPRM) solutions for organizations across Europe. The platform combines external attack surface scanning (Security Rating), Active Directory monitoring (AD Rating), Microsoft 365 security posture analysis (365 Rating), and a governance hub (Trust HQ) into a unified product called Rating+. The platform performs 400 automated security controls and continuously evaluates organizations on a 0-1000 scale without requiring heavy technical deployment, with data hosted on Microsoft Azure France Central. As of the latest available data the platform serves 500+ customers and has evaluated 50,000 organizations in total.

The company monetizes through annual SaaS subscriptions sold via a consultative enterprise sales motion complemented by an international channel partner network spanning Europe, Africa, and Southeast Asia. It serves five primary customer segments — large enterprises, SMEs/mid-market firms, banking and insurance institutions, public sector entities, and private equity funds — with named clients including Allianz, AXA, Crédit Agricole, La Poste, MINARM, VINCI, Soitec, Suntory, FDJ, France Travail, and CDC. The product is explicitly mapped to NIS2, DORA, ISO 27001, HDS, and GDPR regulatory frameworks, positioning it as a compliance enabler for European organizations facing tightening cyber reporting mandates.

Content-led demand generation is anchored by the TPRM Academy (articles, podcasts, webinars) and the annual TPRM Observatory co-published with CESIN, surveying 170+ senior security buyers in France. In 2023 the company merged with TrustHQ, founded by current VP Product Gilles Favier, consolidating GRC/governance capabilities into the Trust HQ module. Leadership comprises Managing Director Luc Declerck, CTO Jean-Baptiste Defard, and VP Product Gilles Favier. The company operates as a SAS (Société par Actions Simplifiées), is privately held, and has not disclosed any external funding rounds.

Name

Board of Cyber

Legal name

Board of Cyber

Website

https://boardofcyber.io

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Board of Cyber is a French SaaS cybersecurity company that provides cyber rating and third-party risk management (TPRM) solutions — Security Rating, AD Rating, 365 Rating, and Trust HQ — to large enterprises, banks, insurers, public sector entities, and private equity funds, with 500+ clients and 50,000 organizations evaluated across Europe.

Ownership category

akta.pro rank

Product category

Third-Party Cyber Risk Management

NAICS

Software Publishers (513210), Security Systems Services (56162), Other Computer Related Services (541519)

akta.pro primary industry

Governance & Board Reporting (Metrics, KRIs/KPIs) (HDADAIAL)

akta.pro secondary industries

Vulnerability Assessment & Scanning (HDADAHAA), Vulnerability Assessment, Security Audits & Compliance Testing (BPAKAHAG), Governance, Risk & Compliance (GRC) Advisory & Assessments (BPAKAHAH), Security Maturity Assessments & Benchmarking (BPAKADAO)

Keywords

• Cyber risk rating
• Third-party risk management
• Security posture assessment
• External attack surface
• Cyber governance platform

Headquarters

HQ city

Sèvres

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. SaaS Subscription (Security Rating, AD Rating, 365 Rating, Trust HQ, Rating Plus): Board of Cyber operates as a SaaS platform charging subscription fees for its suite of cyber rating and TPRM/governance tools. The platform is described as serving 500+ clients across large enterprises, mid-market, public sector, and financial institutions. Subscription tiers are implied by the product lineup (individual modules vs. combined Rating Plus).

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Board of Cyber develops and sells a SaaS cybersecurity rating and third-party risk management platform. Its flagship product, Security Rating, performs continuous, non-intrusive external attack surface evaluation to assign organizations a cyber score from 0 to 1000. The platform is extended by AD Rating (Active Directory security monitoring), 365 Rating (Microsoft 365 posture analysis), and Trust HQ (governance, compliance, and TPRM), and unified under the Rating+ bundle.

Product overview

Board of Cyber is a platform-plus-modules cybersecurity portfolio. Its core offering, Rating+, unifies three distinct rating products — Security Rating (external attack surface/cyber score), AD Rating (Active Directory security), and 365 Rating (Microsoft 365 security) — under a single dashboard. Complementing the rating suite is Trust HQ, a governance, risk, and compliance (GRC) module that centralizes PSSI management, regulatory compliance tracking, third-party risk management, and supplier/filial auditing. The platform targets large enterprises, SMEs/ETIs, banks and insurers, public sector organizations, and private equity funds, addressing regulatory frameworks such as NIS2, DORA, and ISO 27001.

Differentiator

Problem solved

Functional benefit

Brands

• Security Rating: Cyber rating solution that evaluates and monitors the cyber maturity of organizations through automated external surface analysis
• AD Rating
• 365 Rating
• Trust HQ
• Rating Plus

Products and services

• Security Rating

Quantifiable outcome

• 35% of cyberattacks in 2025 involved a third party, underscoring the business case for TPRM solutions
• +3 more outcomes

Named customers18 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

14 partnerships are on record, tiered minor and core.

• AlmondminorChannel Partner/ Reseller/ DistributorAlmond is a partner of Board of Cyber, contributing to the international partner network that extends Board of Cyber's reach across Europe, Africa, and Southeast Asia. The nature of the partnership is channel/reseller/distribution.
• Approach CyberminorChannel Partner/ Reseller/ DistributorApproach Cyber is a partner in Board of Cyber's international channel partner network.
• CYBIAHminorChannel Partner/ Reseller/ DistributorCYBIAH is listed as a partner in Board of Cyber's channel partner network.
• CYLLENEminorChannel Partner/ Reseller/ DistributorCYLLENE is listed as a partner in Board of Cyber's channel partner network.
• DocapostminorChannel Partner/ Reseller/ DistributorDocapost is a partner in Board of Cyber's international channel partner network.
• FTIminorChannel Partner/ Reseller/ DistributorFTI (likely FTI Consulting) is listed as a partner in Board of Cyber's channel partner network.
• NETSYSTEMminorChannel Partner/ Reseller/ DistributorNETSYSTEM is listed as a partner in Board of Cyber's international channel partner network.
• PiterminorChannel Partner/ Reseller/ DistributorPiter is listed as a partner in Board of Cyber's channel partner network.
• Eight AdvisoryminorChannel Partner/ Reseller/ DistributorEight Advisory is listed as a partner in Board of Cyber's channel partner network.
• SwarmneticsminorChannel Partner/ Reseller/ DistributorSwarmnetics is listed as a partner in Board of Cyber's international channel partner network.
• SPIEminorChannel Partner/ Reseller/ DistributorSPIE is listed as a partner in Board of Cyber's international channel partner network.
• Upper LinkminorChannel Partner/ Reseller/ DistributorUpper Link is listed as a partner in Board of Cyber's international channel partner network.
• CESIN (Club des Experts de la Sécurité de l'Information et du Numérique)coreStrategic or Co-development PartnerBoard of Cyber and CESIN co-publish the annual TPRM Observatory (third edition in 2025), surveying 170+ RSSI, DSI, CTO, and compliance directors. This partnership positions Board of Cyber as a thought leader in the French TPRM market and generates high-quality inbound leads through gated content.
• Microsoft AzurecoreTechnology or IntegrationBoard of Cyber's platform is hosted on Microsoft Azure France Central. Data is stored in European (French) datacenters. Azure is both the infrastructure provider and an integrated ecosystem — the platform also offers '365 Rating' specifically for Microsoft 365 environments (EntraID, Defender, collaboration tools), creating product integration synergies.

Scale indicators5 records

Recent moves6 records

Expansion highlights3 records

Broad incumbents

• CrowdStrike: Endpoint and cloud security leader whose Falcon Surface module provides external attack surface management, and whose broader Falcon platform encroaches on adjacent TPRM and posture management use cases.
• ServiceNow (GRC/IRM): Enterprise platform with Integrated Risk Management and TPRM modules targeting the same large-enterprise risk and compliance buyers. Competitor at the GRC/Trust HQ layer rather than at cyber rating.
• Tenable: Established vulnerability management leader with Tenable.io (VM) and Tenable.ep (external attack surface) — broader portfolio with overlapping vulnerability assessment and external surface monitoring capabilities versus Board of Cyber's Security Rating.

Direct peers

• Whistic: Vendor security assessment and TPRM platform that combines a vendor security catalog with continuous attack surface data — a comparable TPRM workflow targeting CISOs and procurement teams similar to Trust HQ.
• BitSight: Direct competitor providing externally observable cyber risk ratings, TPRM workflows, and board-level reporting. Targets the same enterprise CISO/risk buyer as Board of Cyber and competes head-to-head on cyber rating and third-party monitoring.
• UpGuard: Cyber risk and vendor risk management vendor offering attack surface scanning plus TPRM questionnaires and workflows — overlapping Board of Cyber's Security Rating and Trust HQ capabilities for mid-market and enterprise buyers.
• Panorays: Third-party cyber risk management platform combining external attack surface scanning, security questionnaires, and remediation workflows. Direct competitor in the TPRM and supplier rating use cases Board of Cyber targets.
• SecurityScorecard: Global leader in external cyber ratings, offering continuous security scoring, third-party risk management, and attack surface intelligence — the same core use cases as Board of Cyber's Security Rating and Trust HQ modules.
• RiskRecon (Mastercard): External cyber risk ratings and attack surface analytics vendor acquired by Mastercard; competes in the same third-party risk and security rating category with similar financial-services buyer overlap.

Emerging players

• NormShield (now part of Black Kite): Cyber risk rating and TPRM vendor offering external scanning plus financial-quantified cyber risk; smaller and more focused than SecurityScorecard/BitSight, comparable to Board of Cyber's positioning outside of France.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@societeboardofcyber8433
• LinkedInlinkedin.com/company/board-of-cyber
• Xx.com/boardofcyber

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Board of Cyber