Protecht Group, the world’s leading GRC solutions provider, is delighted to announce its recent acquisition of VISO TRUST, an innovator in the development of AI-driven third-party risk management (TPRM) solutions operating out of the United States. The acquisition serves as an affirmation of Protecht’s dedication towards global growth and strengthens its position within the rapidly evolving market that is expected to attain a value of US$41.7 billion by 2034 at a CAGR of 11.5%.
As VISO TRUST’s unique “agentic AI” is brought under the Protecht umbrella, we are witnessing a pivotal moment for the industry. Despite nearly 83% of enterprise organizations looking to expand their third-party partnerships over the next three years, less than 18% are able to integrate vendor risk management into their enterprise-level processes, which could make them susceptible to cyber attacks from their third parties.
Bridging the Scalability Gap in Risk Management By combining VISO TRUST’s automated assessment capabilities with Protecht’s robust GRC platform, the acquisition addresses the fragmented, manual processes that historically slowed down risk teams.
Jason Phillips, CEO of Protecht, said: “The challenge isn’t just the growth in third-party risk, it’s that most organisations are still trying to manage it with fragmented, manual approaches that don’t scale.” Phillips further noted, “VISO TRUST’s agentic third-party risk capabilities naturally complement and enhance Protecht’s existing risk management platform to help customers confidently manage risk across their entire enterprise and vendor ecosystems.”
Also Read: Cloudflare and Wiz Form Strategic Alliance to Secure the Global AI Attack Surface and Eliminate ‘Shadow AI’
Greater Potential for the Contemporary Organization The all-in-one platform will enable organizations to achieve quick wins with:
• Speedy Due Diligence: AI-powered analysis that greatly cuts down vendor vetting times.
• Automated Processes: AI assistants that execute basic GRC activities, freeing up risk managers for strategic planning.
• 360-Degree Insight: Constant monitoring of intricate vendor relationships within third and fourth parties.
• Emerging Insights: Sophisticated data analysis that converts technical risk information into actionable board-level reports.
Paul Valente, Co-founder and Chief Customer Officer of VISO TRUST, added: “Enterprise organisations are expanding their third-party vendor networks while facing more sophisticated cyber threats through those same relationships. Yet, most are still managing that risk manually, and that gap is exactly the problem VISO TRUST was built to address.” He continued, “Joining Protecht means we can meet that demand at scale, combining our AI and agent capabilities with a world-class GRC platform, to deliver something genuinely differentiated in the market and for our customers.”
Growth and Leadership In this respect, the two co-founders of VISO TRUST, namely Paul Valente and Russ Sherman (Chief Technology Officer), will be retained within the management structure as part of this change. It is important to mention that this move comes following a US$280 million funding by PSG Equity last year.
