Entreda, the leading cyber security company offering cyber security training to the independent financial advice industry and a wholly owned subsidiary of Smarsh announced the acquisition of Privva. The Cloud-based Platform of Privva enables organisations to carry cyber risk evaluations in order to manage third party vendors and internal risks.
The acquisition strengthens Entreda’s relationship with Privva as strategic partners. The products and services of Entreda help mitigate the risk of breaches of IT systems and networks. In the meantime, Privva’s provides help to companies to assess their vendors and suppliers’ cyber security preparation. Entreda and Privva will create a more streamlined and integrated offering that allows customers to do business with greater trust.
Privva’s game-changing technology enables regulated organizations, including wealth management firms, to identify and mitigate vulnerabilities in the cybersecurity posture of their third-party vendors and suppliers and do so in a streamlined, automated way. Firms can never be too sure about the cyber hygiene of partners, no matter how familiar they believe they are. They owe it to themselves and their clients to offer a greater level of security, and Privva’s solution offers just that,” said Sid Yenamandra, CEO and founder of Entreda.
Going forward, Privva will do business under the Entreda brand, and Founder and CEO Ishan Girdhar will continue to lead the Privva organization, reporting to Mr. Yenamandra.
“It’s a great honor and pleasure to join Entreda, a Smarsh company and cybersecurity leader in the wealth management space, whose track record of protecting client firms’ sensitive data speaks for itself. Privva and Entreda have worked together for nearly two years implementing Privva’s solution into some of the largest wealth management firms’ platforms. The opportunity to fully integrate with Sid and his team was ideal, as the combined entity will enable both of us to serve firms even more effectively,” said Mr. Girdhar.
“The closer integration of the Entreda and Privva platforms will enhance Advisor Group’s ability to perform cyber risk assessments of thousands of advisors and branch offices in our network and protect them – along with their clients,” said Jon DeLaCastro, VP of Security Assurance, Governance, Risk & Compliance, for Advisor Group.
Sid Yenamandra said, “With the advent of remote work and cloud apps, wealth firms and advisors are relying on tools from third-party vendors more than ever before. Combined with and integrated into our Unify platform, Privva’s proprietary risk scoring methodology will ensure that our client firms can do business with their suppliers, knowing that their data is well protected.”
Entreda is the leading provider of cybersecurity in the field of wealth management with over 300 companies. Entreda will expand its presence beyond its conventional markets by adding Privva’s customers to financial services, law, technology and healthcare services.