Vendor Security and Privacy Assessment Software

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What is it?

Every SaaS company relies on other SaaS companies to do work. That means the company's data is spread out in multiple tools. Vendor security and privacy assessment tools help companies maintain the standard of certified security while using external tools, APIs, and in-product connectors (analytics, data warehouses, etc.). Features usually include:

• Allow companies to assess vendor profiles,

• Create workflows to engage with vendors and request security questionnaires, audits,

• Provide customer-facing teams with workflow to easily share access to the company’s vendor profile

• Support standardized security and privacy framework questionnaire templates (GDPR, ISO 27001)

If you'd like to learn more about how the product works exactly, see the premium report.

Who’s the buyer?

Job titles usually include CTO and at larger companies: director of compliance. However, some players have a positioning that targets sales leaders and product marketing managers.

34% of buyers are in the SMB segment, 45% in the mid-market, and 21% in the enterprise market.

What is the problem?

It’s not only about security or feeling safe. Most companies use vendor security because they need to stay certified (SSO 2, HIPAA) to sell to demanding enterprises. So vendor security tools help you verify that your vendors are safe to work with.

The other part of the problem is that if you sell to enterprises you will need to fill out a ton of security questionnaires. Vendor security tools help you fill these out faster with copy-and-paste answers, AI, and content libraries.

How big is the market?

The top 10 players bring about $492M in ARR. The combined annual revenue of all players in the market is north of $2B.

If you'd like to see predictions, see the premium report.

How fast is it growing?

In the past 3 years, the supply side of the market has grown 328% with an average of 63% year-over-year growth.

If you'd like to see how fast the demand is growing, see the premium report.

Who are the top 10 players?

Revenue numbers are estimated. We usually are able to find one of the top players mentioning numbers of customers in a recent funding event. This way we can estimate revenue numbers.

How much are people paying?

Companies pay anywhere from $500 per month up to $10,000 or more per month (billed annually).

How are they buying?

The setup is time-consuming, so there is no product-led growth motion. Buyers have to book a demo to buy. However, a few players offered a 7-day free trial AFTER you talk to a sales team.

If you'd like to see how players get customers, see the premium report.

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