Pax8 Adds CYRISMA Risk Management to its Marketplace

Cloud marketplace Pax8 announced it is adding Cyber Risk Information Security Management Accountability (CYRISMA), a risk management platform for Managed Service Providers (MSPs), to its marketplace to help MSPs strengthen their security posture.

Pax8 runs a cloud-based marketplace that allows MSPs and channel partners to source various SaaS applications and business services. Last month, Pax8 added Rewst's robotic process automation solution to its marketplace. Earlier this year, CrowdStrike and Malwarebytes were added to the company's offerings.

CYRISMA provides multiple cyber risk management capabilities in addition to vulnerability assessment, according to a statement from the company. These include sensitive data discovery, secure configuration scanning, cyber risk assessment reporting, third-party patching, compliance tracking, and much more. Moreover, it goes beyond the identification and assessment of security gaps and assists in prioritizing and mitigating risks. MSPs can now focus on critical vulnerabilities and take swift action to bolster their security and secure their sensitive data from within the platform. With the ability to quickly close security gaps and deliver value through cyber risk assessments, CYRISMA becomes an invaluable solution for partners of all sizes, ensuring a comprehensive and proactive approach to cybersecurity, the company said.

“Pax8 is on a mission to team up with top-rated security vendors like CYRISMA to offer progressive security solutions and expert guidance to our partners so they can meet the ever-growing security demands of their customers,” said Nikki Meyer, Corporate Vice President Vendor Experience at Pax8. “The partnership with CYRISMA equips MSPs with a cutting-edge risk assessment solution, addressing vital market gaps that are key to ensuring their success.”

“We are excited to partner with Pax8 and look forward to enabling MSPs across the globe to simplify and streamline their customers’ cyber risk management programs,” said CYRISMA Chief Executive Officer Liam Downward.

CYRISMA Chief Revenue Officer Mike Lyons added, “With essential cyber risk management capabilities combined in a single, easy-to-use platform, our MSP partners can do away with the complexity of using multiple vendor solutions to deliver cybersecurity services.”

Pax8's Recent Growth

Pax8 recently hit a major milestone: Achieving $1 billion ARR. In February, Pax8 named Rob Rae Corporate Vice President of Communities and Ecosystems. In April, the company announced the appointment of David Powell as Vice President of Sales Strategy.

At its Pax8 Beyond event in June, the company announced the next evolution of its cloud distribution marketplace — a system to match prospective managed services customers with MSPs. The system will acquire end customers via its vendor partners, as Jessica Davis reported. Here’s how that works. SaaS vendors typically have contact forms on their websites to capture information from potential direct SMB end-customers. But it’s not normally cost-effective for vendors to work directly with SMBs. Pax8 will work with vendors to replace those fill forms with a “Buy Now” button that will enable Pax8 to collect customer information. Then, an AI-driven matching system on the back end will match customer buyers to MSPs. Both customers and MSPs will have the ability to swipe left or right to choose or reject a potential match.

Pax8 has also made a number of recent acquisitions, including Microsoft Dynamics partner Bam Boom Cloud.