Quantara AI Launches Cyber Risk Intelligence Platform

- The company, based in Boise, Idaho, is led by founder and CEO Harish Barnela, who has a background in Big Four consulting and scaling technology programs for Fortune 500 companies. - Quantara AI's platform moves away from traditional, static risk assessments by offering a continuous, "always-on" model that quantifies cyber risk in financial terms, such as Value at Risk (VaR). - A key feature is the platform's ability to calculate the return on investment (ROI) for security spending, showing how specific investments can reduce financial risk. - The platform provides executive-level reporting with persona-based dashboards tailored for CISOs, CFOs, and board members, and helps automate reporting for regulatory requirements like those from the SEC. - According to Tracxn, a platform for tracking startups and private companies, Quantara AI is currently unfunded. - The launch comes as the cyber risk quantification (CRQ) market is growing, with analysts from IDC projecting that by 2028, 40% of enterprises will use AI-based platforms to translate security data into financial insights. - The competitive landscape for AI-driven cyber risk includes companies like Balbix, which also offers cyber risk quantification in monetary terms and integrates with platforms like ServiceNow. - Another major player in this space is SAFE Security, which recently acquired RiskLens, a company that pioneered the FAIR (Factor Analysis of Information Risk) model, a standard for quantifying cyber risk.