Irish Innovator ZeroRisk Secures $4 Million Investment to Enhance Global Compliance Solutions

Irish Innovator ZeroRisk Secures $4 Million Investment to Enhance Global Compliance Solutions

ZeroRisk, an innovative Irish company specializing in compliance and cyber risk management tools for the payment sector, has successfully raised $4 million in a recent funding round. This investment marks a significant milestone for the firm as it continues to establish itself as a critical resource for acquiring banks, payment service providers, digital merchants, and other financial institutions.

Funding Round Led by Elkstone

According to Finextra, the funding round was led by Elkstone, a prominent player in the venture capital space. Established in 2023, ZeroRisk has quickly gained recognition for its advanced software solutions that facilitate adherence to the Payment Card Industry Data Security Standard (PCI DSS) while integrating the NIST Cyber Security Framework.

Real-Time Analytics for Cyber Risk Management

ZeroRisk’s platform offers real-time analytics and dynamic risk scoring, enabling organizations to identify vulnerabilities and proactively address cyber risks. This proactive approach is essential for businesses looking to maintain compliance and secure sensitive data.

Strategic Expansion Plans

The newly acquired capital will primarily be used to broaden ZeroRisk’s international reach, with a particular focus on the U.S. market. Currently, the company provides services to several Tier 1 acquiring banks in the region.

Insights from Leadership

Gary Nolan, co-founder and CEO of ZeroRisk, emphasized the importance of this funding in the company’s growth journey. “ZeroRisk’s platform sets a new standard for merchant risk management at acquiring banks, expanding beyond cybersecurity and compliance to tackle broader merchant risks and other essential compliance requirements,” he stated.

Job Creation and Innovation

With plans to scale globally, ZeroRisk intends to hire for 40 new positions across various departments, including:

  • Data Science
  • User Experience
  • Product Development
  • Engineering
  • Sales and Marketing
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This expansion will not only enhance the company’s operational capabilities but also drive continuous innovation in its product offerings.

Conclusion

As ZeroRisk continues to navigate the complexities of compliance and cyber risk management, its recent funding will undoubtedly play a pivotal role in shaping the future of its services. For more insights on cybersecurity and compliance trends, visit Cybersecurity Insights.

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