Risk Ledger

Risk Ledger is a London-based governance, risk, and compliance company that runs a network-model platform for third-party (supply-chain) cyber risk management. The core problem it targets is well known to any procurement or security team: every customer sends its suppliers a bespoke security questionnaire, and every supplier ends up answering dozens of near-identical questionnaires in slightly different formats. Risk Ledger’s model flips that by having each supplier maintain one standardized security profile on the network, which any customer organization on the platform can then review, monitor for changes, and benchmark against peers.

Founded in 2017 by Haydn Brooks and Daniel Saul, the company has built out its network to more than 16,000 organizations, with concentration in critical national infrastructure, financial services, insurance, and government sectors in the UK — industries where third-party and fourth-party risk is both a regulatory requirement (e.g., under the UK’s NIS Regulations and financial-sector operational resilience rules) and a practical attack surface given how many breaches originate through vendor access.

In mid-2026 Risk Ledger raised a £24 million ($32M) Series B led by Axiom Equity, bringing its total raised to roughly £33.8 million, with stated plans to expand into the US market and add AI-driven assessment and monitoring capabilities. That funding trajectory and the platform’s network effects (suppliers only need to fill out one profile to satisfy multiple customers) are a genuine structural advantage over point-in-time questionnaire tools and single-tenant TPRM software.

The company competes against both legacy GRC/TPRM vendors (OneTrust, Prevalent, ProcessUnity) and newer continuous-monitoring rating services (SecurityScorecard, BitSight); its differentiation is the shared-network model rather than either a static questionnaire tool or an outside-in ratings score, though its network effects are strongest within the UK where its base is concentrated.