Is BitSight Technologies profitable in 2026?

BitSight is private and does not disclose audited financials. Aggregator estimates put 2025 revenue near $200M ARR (unconfirmed), while the company has raised roughly $400M total funding and holds a $2.4B valuation from Moody's 2021 investment, with no profitability figures published.

Could AI replace BitSight's ratings service?

AI is already automating parts of BitSight's core workflow, vendor questionnaires and framework mapping, which rivals like UpGuard market as differentiators. But BitSight's proprietary scanning data (4B+ IPs scanned daily) and use in 150+ public filings give it audit-grade credibility that generic AI tools lack as of 2026.

Who is BitSight's biggest competitor?

SecurityScorecard is BitSight's closest direct rival, slightly ahead in PeerSpot's June 2026 ranking (8.1 vs 7.7 average rating), though both saw mindshare decline year over year. Palo Alto Networks, CrowdStrike, and Microsoft also compete via bundled exposure-management features.

Who owns BitSight Technologies?

BitSight is private. Moody's Corporation is its largest shareholder after investing $250 million in September 2021 for a minority stake, valuing BitSight at $2.4 billion. No new priced funding round has occurred since, and no IPO has been filed as of July 2026.

Has BitSight raised new funding recently?

No. BitSight's last priced round was Moody's $250 million minority investment in September 2021, valuing the company at $2.4 billion. As of April 2026, third-party trackers like Caplight and PitchBook still cite that same stale valuation with no confirmed new financing since.

What has BitSight acquired recently?

BitSight acquired Cybersixgill, a Tel Aviv-based dark and deep web threat intelligence company, for $115 million, announced November 14, 2024 and closed December 11, 2024, adding generative AI-enriched threat data to its platform.

United States · United States

BitSight Technologies

Sells cyber risk ratings that insurers, regulators, and procurement teams use to score other companies.

Losing its protection

Assessed 29 July 2026 · Evidence as of 29 July 2026

The structural protection is eroding.

On the recordSince 29 July 2026 · Checkable from late 2026 to early 2027 · Every call on the record Checkpoint: New CEO John Clancy's 'AI-driven growth mandate' plays out; watch for a Moody's buyout, PE recap, or fresh priced round

The call

BitSight's ratings still carry regulatory weight, but flat funding, shrinking headcount, and platform bundling point toward a sale more than a scale-up.

BitSight rates how risky other companies are from a cybersecurity standpoint, selling these grades to banks, insurance companies, and large employers. The company built real credibility by publishing hundreds of reports and matching its ratings against what major rating agencies like Moody's also found, which kept huge tech companies like Microsoft and Palo Alto from easily copying it. But now those same tech giants are building their own exposure management tools directly into their security products, and newer AI-powered startups are automating the boring middle parts of BitSight's business like questionnaire filling and compliance mapping, which were profitable for mid-sized customers. The picture could shift if Moody's buys BitSight to keep the ratings inside their own firm, or if the big platforms' bundled tools prove too convenient for enterprises to resist.

Why

AI pressure: UpGuard, Panorays, Black Kite (AI-native vendor questionnaire automation). AI-native rivals automate vendor questionnaires, squeezing the mid-market pricing layer BitSight built its business on. Could AI do the core job? Only partly.

Bigger players: Microsoft Defender EASM, Palo Alto Cortex, CrowdStrike Falcon Exposure Management. Platform giants bundle attack-surface management into tools enterprises already buy, shrinking BitSight's exposure-management lane. Could a giant copy it? Probably.

What protects it. Ratings sit inside 150+ public filings and insurer/reinsurer models; Moody's, Marsh, and AIR treat them as reference data platform giants can't supply since they're rated, not raters.

What would change this call

BitSight raises a new priced round above or below the $2.4B 2021 valuation within 12 months. Would show whether investor confidence is growing or eroding since the Moody's deal.
Moody's announces a full acquisition or majority buyout of BitSight. Would confirm exit-mode speculation rather than independent growth.
BitSight headcount stops declining and resumes net hiring growth. Would indicate reversal of cost-cutting and renewed expansion rather than pre-sale trimming.

Key numbers

150+ public financial filings cite BitSight ratings (n.d.)
Headcount down to 775-789 from 1,005 in 2023 (mid-2026)
$250M Moody's stake set $2.4B valuation, still stale (2021-09)

Named risks

No new priced funding round since September 2021, leaving a five-year stale $2.4B valuation with no confirmed IPO path. Severity: high
Headcount decline of roughly 23% from 2023 to 2026 signals cost-cutting or exit-mode restructuring. Severity: high
AI-native TPRM entrants automating vendor questionnaires threaten BitSight's mid-market pricing and intermediary role. Severity: medium
Platform giants Microsoft, Palo Alto, and CrowdStrike bundling exposure management could erode BitSight's attack-surface product line. Severity: medium
New CEO John Clancy is a PE-operations executive without security-industry background, raising execution uncertainty. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
SecurityScorecard	contesting	SecurityScorecard led 8.1 vs BitSight 7.7 average rating on PeerSpot as of 2026-06-16, both mindshare down YoY
Microsoft (Defender EASM)	losing to	Microsoft bundles external attack surface management directly into Defender, competing with BitSight's exposure management
Palo Alto Networks (Cortex)	losing to	Palo Alto Cortex Exposure Management ships bundled attack-surface capability overlapping BitSight's offering
CrowdStrike (Falcon Exposure Management)	losing to	CrowdStrike Falcon bundles exposure management into its platform, pressuring BitSight's standalone product
UpGuard, Panorays, Black Kite	losing to	AI-native TPRM rivals market automation of vendor questionnaires, the workflow BitSight monetizes, as of 2025-2026

Questions people ask

Is BitSight Technologies profitable in 2026?: BitSight is private and does not disclose audited financials. Aggregator estimates put 2025 revenue near $200M ARR (unconfirmed), while the company has raised roughly $400M total funding and holds a $2.4B valuation from Moody's 2021 investment, with no profitability figures published.
Could AI replace BitSight's ratings service?: AI is already automating parts of BitSight's core workflow, vendor questionnaires and framework mapping, which rivals like UpGuard market as differentiators. But BitSight's proprietary scanning data (4B+ IPs scanned daily) and use in 150+ public filings give it audit-grade credibility that generic AI tools lack as of 2026.
Who is BitSight's biggest competitor?: SecurityScorecard is BitSight's closest direct rival, slightly ahead in PeerSpot's June 2026 ranking (8.1 vs 7.7 average rating), though both saw mindshare decline year over year. Palo Alto Networks, CrowdStrike, and Microsoft also compete via bundled exposure-management features.
Who owns BitSight Technologies?: BitSight is private. Moody's Corporation is its largest shareholder after investing $250 million in September 2021 for a minority stake, valuing BitSight at $2.4 billion. No new priced funding round has occurred since, and no IPO has been filed as of July 2026.
Has BitSight raised new funding recently?: No. BitSight's last priced round was Moody's $250 million minority investment in September 2021, valuing the company at $2.4 billion. As of April 2026, third-party trackers like Caplight and PitchBook still cite that same stale valuation with no confirmed new financing since.
What has BitSight acquired recently?: BitSight acquired Cybersixgill, a Tel Aviv-based dark and deep web threat intelligence company, for $115 million, announced November 14, 2024 and closed December 11, 2024, adding generative AI-enriched threat data to its platform.

Timeline

2026-04-07John Clancy, a PSG Equity operations executive, appointed CEO, replacing Steve Harvey
2025-09-15BitSight reports 3,500+ customers and 39% YoY growth in Vendor Risk Management customers
2025-08-05BitSight launches AI-Powered Framework Intelligence, claims 99%+ reduction in assessment tasks
2024-12-11BitSight closes $115 million acquisition of Cybersixgill threat intelligence
2024-11-14BitSight announces plan to acquire Cybersixgill for $115 million
2024-05-05BitSight launches AI-powered Graph of Internet Assets (GIA) discovery engine
2021-09Moody's invests $250 million for minority stake, valuing BitSight at $2.4 billion
2018-06BitSight raises $60 million Series D led by Warburg Pincus
2013-06-04BitSight secures $24 million Series A financing
2011BitSight founded by Nagarjuna Venna and Stephen Boyer in Boston

Revision history

29 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

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