CISO Tribune

Vendor comparison · 2 companies

Panorays vs UpGuard

Panorays sells a platform that detects hidden 3rd to Nth parties, maps their relationships and monitors them for cyber threats. UpGuard sells tools that move third-party risk monitoring from static snapshots to continuous oversight. CISO Tribune files both under Third-party risk and security ratings. This page sets the two records side by side: what each sells, where it is based, who owns and funds it, the customers it names and its recent news, each fact numbered to its source.

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  • Panorays
  • UpGuard
Panorays vs UpGuard: Products, Customers and Funding Compared
PanoraysPanorays sells a platform that detects hidden 3rd to Nth parties, maps their relationships and monitors them for cyber threats.panorays.comUpGuardUpGuard sells tools that move third-party risk monitoring from static snapshots to continuous oversight.upguard.com
What it sells
  • Cybersecurity Posture[3][6]Assesses the cybersecurity posture of each third party.
  • Remediation[3][6][7]Prioritized action plans for each vendor.
  • Supplier AI Risk Detection[8]Identifies which third parties are using AI.
  • User Risk[1][5][10]Human risk management that gives visibility into human risk and enables safe AI adoption.
  • Risk Automations[1][10]Risk automation that connects a risk stack to system APIs to automate discovery, notification and remediation.
  • Questionnaire AI[11]Automatically completes questionnaires using a customer's own security documentation.
Categories
Headquarters
Not stated on its pagesHobart, Australia[2]
Founded
2016[2]2012[2]
Ownership and funding
Not stated on its pagesPrivately held[2][3]
Named customers
Not stated on its pagesNot stated on its pages
Recent news
Not stated on its pagesNot stated on its pages
G2 and Gartner Peer Insights
  • G2: listed, seen November 10, 2026[4]
  • Gartner Peer Insights: Not stated on its pages
  • G2: listed, seen November 10, 2026[3]
  • Gartner Peer Insights: Not stated on its pages
Who it fits
From its own pages, Panorays sells mainly to organizations that need to assess and monitor the cyber risk of their suppliers and other third parties. Panorays states that it provides third-party security information to suppliers, stakeholders, business owners and different team members. Its pages also describe presenting a supplier portfolio's security status to a board, and vetting partners under frameworks such as OCC and EBA. Panorays experts also work with customers to create or upgrade a third-party security management program for their use case and risk tolerance.Not written yet
Last verified
November 2, 2026September 27, 2026

Where they overlap

  • Third-party risk and security ratings is the primary category of both Panorays and UpGuard.

Where they differ, field by field

  • UpGuard is also filed under External attack surface management and Human risk management.
  • Panorays lists Cybersecurity Posture, Remediation and Supplier AI Risk Detection. UpGuard lists User Risk, Risk Automations and Questionnaire AI.
  • UpGuard is headquartered in Hobart, Australia.
  • Panorays was founded in 2016. UpGuard was founded in 2012.
  • UpGuard is privately held.

How they differ

Panorays and UpGuard both sell tools for assessing and monitoring the cyber risk of suppliers and other third parties. Panorays assesses the cybersecurity posture of each third party by taking into account business criticality, external and internal assessments, and the customer's risk appetite. Panorays also sells a platform that detects hidden 3rd to Nth parties, maps their relationships and monitors them for cyber threats. For vendor monitoring, UpGuard scans attack surfaces and vulnerabilities, tracks security news and incidents, and sends alerts when risk appears. UpGuard also offers attack surface management and threat intelligence to expose, surface and remediate external risk. UpGuard sells User Risk, a human risk management product that sits in the browser and blocks unauthorized file uploads and copy-pastes.

Panorays offers Smart Match, which can automatically fill internal questionnaires. UpGuard's Questionnaire AI automatically completes questionnaires using a customer's own security documentation. Panorays sells Supplier AI Risk Detection, a module that identifies which third parties are using AI through external intelligence, certifications and discovery methods. UpGuard offers trust management with trust centers and questionnaire imports. Panorays integrates its risk assessments with Archer's systems and gives customers access to their Panorays risk assessments within Salesforce. Panorays also brings third-party cyber posture and threat intelligence into Splunk and Snowflake's AI Data Cloud.

UpGuard was founded in 2012, is headquartered in Hobart, Australia, and is privately held. Panorays was founded in 2016. Panorays operates its TPCRM platform under a formal AI governance framework certified to ISO/IEC 42001.

What it sells: Panorays

What Cybersecurity Posture does[3][6]
Panorays assesses the cybersecurity posture of each third party by taking into account business criticality, external and internal assessments, and the customer's risk appetite. Panorays tests the security posture of hundreds of assets across third parties' external attack surfaces.
What Remediation does[3][6][7]
Panorays tailors prioritized action plans for each vendor, focusing on the risks that could impact the customer most. Panorays generates remediation tasks automatically from questionnaire responses and external assessments.
What Supplier AI Risk Detection does[8]
Supplier AI Risk Detection is a Panorays module that identifies which third parties are using AI through external intelligence, certifications and discovery methods. Panorays offers three specialized AI questionnaire templates, designed to assess AI risk at increasing levels of depth.

What it sells: UpGuard

What User Risk does[1][5][10]
User Risk continuously detects unsanctioned applications running across a workforce and exposes over-privileged permissions and credential leaks. User Risk nudges employees mid-workflow and redirects them to approved corporate alternatives. User Risk sits in the browser and blocks unauthorized file uploads and copy-pastes.
What Risk Automations does[1][10]
UpGuard describes risk automation that connects a risk stack to system APIs to automate discovery, notification and remediation. The offering automates discovery, notification and resolution by integrating a risk stack.
What Questionnaire AI does[11]
Questionnaire AI automatically completes questionnaires using a customer's own security documentation. Customers upload documents such as a SOC 2 report, an information security report and previously completed questionnaires.

Questions about Panorays and UpGuard

What do Panorays and UpGuard sell?
Panorays sells Cybersecurity Posture, Remediation and Supplier AI Risk Detection. UpGuard sells User Risk, Risk Automations and Questionnaire AI.
Are Panorays and UpGuard in the same category?
Yes. Third-party risk and security ratings is the primary category of both on CISO Tribune.
Where are Panorays and UpGuard headquartered?
UpGuard is headquartered in Hobart, Australia.
When were Panorays and UpGuard founded?
Panorays was founded in 2016. UpGuard was founded in 2012.
Who owns Panorays and UpGuard?
UpGuard is privately held.
Who are Panorays and UpGuard sold to?
From its own pages, Panorays sells mainly to organizations that need to assess and monitor the cyber risk of their suppliers and other third parties.

About Panorays

Panorays sells a platform that detects hidden 3rd to Nth parties, maps their relationships and monitors them for cyber threats. Panorays centralizes a customer's digital supply chain to give nth-level visibility into third-party risk. Panorays assesses vendors using cyber posture ratings, business impact indicators and internal questionnaires. Panorays AI uncovers hidden third-, fourth- and nth-party relationships.[1][3][5][7]

Panorays evaluates risk across four key areas, which include AI-powered questionnaires to capture vendor controls and compliance and external attack surface assessments to detect security gaps. The remaining areas are inherent risk based on each vendor's business and technology profile and the customer's own risk policies. Panorays assesses the cybersecurity posture of each third party by taking into account business criticality, external and internal assessments, and the customer's risk appetite. Panorays tests the security posture of hundreds of assets across third parties' external attack surfaces, highlighting gaps and suggesting remediation steps. Panorays lets customers customize third-party risk assessments with factors such as questionnaire weighting, the impact of critical tests and an adjustable risk rating matrix. Each cyber posture assessment in Panorays is cross-referenced with questionnaire responses and certifications to validate the findings and emphasize any gaps. Panorays assigns a real-time rating to every third-party connection. Panorays AI maps and ranks all 3rd to Nth-party connections based on a customer's evolving Risk DNA.[3][6][7][12]

Panorays monitors the external attack surface and detects vulnerabilities across a customer's digital ecosystem. Panorays continuously monitors third parties' assets and notifies customers of security gaps found in the network, application and human layer. Hundreds of assets are tested for risks such as Dark Web mentions and compromised credentials. Panorays tailors prioritized action plans for each vendor, focusing on the risks that could impact the customer most. Panorays generates remediation tasks automatically from questionnaire responses and external assessments, and customers assign priorities and deadlines. Panorays lets customers collaborate directly with third parties in-platform to mitigate risks and maintain compliance.[1][3][7]

Panorays offers automated Nth-Party Discovery to find hidden risks beyond a customer's known suppliers. Supplier AI Risk Detection is a Panorays module that identifies which third parties are using AI through external intelligence, certifications and discovery methods. Panorays labels third parties that use AI at the individual level and provides a dedicated report with a consolidated view. Panorays offers three specialized AI questionnaire templates, designed to assess AI risk at increasing levels of depth. The more advanced Panorays AI templates require direct input from third parties and are aligned with ISO 42001, NIST AI RMF and the EU AI Act. The basic Panorays AI template can be answered using public information with the help of the AI Answer Advisor.[3][5]

Smart Match combines Panorays' self-hosted AI with Gemini-powered intelligence to deliver fully referenced questionnaire answers. Smart Match references previously answered questions as an internal source and enriches responses with publicly available data. Smart Match uses Gemini to extract verified information from certifications and attestations like SOC 2, DORA and NIS2, or from any uploaded document. Smart Match can automatically fill internal questionnaires. Panorays lets customers invite suppliers to the platform free of charge so that suppliers see the status of their security evaluations. Suppliers respond to the Smart Questionnaire directly on the Panorays platform. Panorays allows customers to message a supplier within the platform. All interaction with suppliers is automatically stored on Panorays for later clarification or auditing.[5][10]

Panorays lets customers segment suppliers into groups based on business needs and control permissions inside the organization. Based on customer input, Panorays automatically determines the criticality of suppliers to the business and rates them accordingly. Panorays shows when suppliers receive and respond to questionnaires. Panorays grades responses and surfaces missing policies. The Smart Questionnaire includes a dedicated scale for a third party's GDPR readiness. Panorays continuously monitors third parties and reports issues affecting compliance with GDPR, NYDFS, NIST, ISO 27001 and PCI DSS. Panorays lets customers present a full portfolio's security status to a board, including ratings, questionnaire status, geolocation and business impact. Panorays supplier comparison reports compare similar vendors side by side and support selecting vendors for RFPs.[3][11][12][13]

Panorays connects with tools customers already use. Panorays integrates its risk assessments with Archer's systems. Panorays gives customers direct access to their Panorays risk assessments within Salesforce. Panorays incorporates third-party cyber posture and threat intelligence into Splunk. Panorays integrates cyber posture and threat intelligence into Snowflake's AI Data Cloud. Panorays experts work with customers to determine which standards and regulations are relevant for their third parties, and the platform checks that the third parties adhere to them. Panorays operates its TPCRM platform under a formal AI governance framework certified to ISO/IEC 42001.[3][7][12][13][14][15]

Panorays on the record

Sources

Panorays full record

  1. [1]panorays.comPanorays · panorays.com · published June 22, 2026 · Tier A
  2. [2]Forrester names panorays a leader 2024Panorays · panorays.com · published May 27, 2024 · Tier A
  3. [3]Third-Party Cyber Risk & Attack Surface Mgmt | PanoraysPanorays · undated page, accessed October 27, 2026 · Tier A
  4. [4]Panorays Reviews 2026: Details, Pricing, & Features - G2G2 · undated page, accessed October 27, 2026 · Tier C
  5. [5]Supply Chain Risk Management | PanoraysPanorays · undated page, accessed November 10, 2026 · Tier A
  6. [6]Cybersecurity Posture | PanoraysPanorays · undated page, accessed November 10, 2026 · Tier A
  7. [7]Continuous Cyber Security Monitoring | PanoraysPanorays · undated page, accessed November 10, 2026 · Tier A
  8. [8]Third-Party AI Risk Assessment | PanoraysPanorays · undated page, accessed November 10, 2026 · Tier A
  9. [9]Smart Match: AI-Powered Questionnaire Automation | PanoraysPanorays · undated page, accessed November 10, 2026 · Tier A
  10. [10]Communication | PanoraysPanorays · undated page, accessed November 10, 2026 · Tier A
  11. [11]Vendor Portfolio Management | PanoraysPanorays · undated page, accessed November 10, 2026 · Tier A
  12. [12]Regulatory Compliance Monitoring | PanoraysPanorays · undated page, accessed November 10, 2026 · Tier A
  13. [13]Reporting & Dashboards | PanoraysPanorays · undated page, accessed November 10, 2026 · Tier A
  14. [14]Integrations | PanoraysPanorays · undated page, accessed November 10, 2026 · Tier A
  15. [15]Professional Services | PanoraysPanorays · undated page, accessed November 10, 2026 · Tier A

UpGuard full record

  1. [1]upguard.comUpGuard · upguard.com · undated page, accessed September 27, 2026 · Tier A
  2. [2]Upguard raises 75m in series c funding to accelerate market leadership in cyber risk posture managementUpGuard · upguard.com · published February 26, 2026 · Tier A
  3. [3]UpGuard Vendor Risk Reviews & Product DetailsG2 · undated page, accessed October 29, 2026 · Tier C
  4. [4]Continuous Third-Party Risk Monitoring | UpGuardUpGuard · undated page, accessed November 10, 2026 · Tier A
  5. [5]The #1 Cyber Risk Posture Management Platform | UpGuardUpGuard · undated page, accessed November 10, 2026 · Tier A
  6. [6]Pricing For The UpGuard CRPM Platform | UpGuardUpGuard · undated page, accessed November 10, 2026 · Tier A
  7. [7]Third-party Risk Assessment Software | UpGuardUpGuard · undated page, accessed November 10, 2026 · Tier A
  8. [8]Lucid Security Rating & Data Breaches | UpGuardUpGuard · undated page, accessed November 10, 2026 · Tier A
  9. [9]GiftPay Security Rating & Data Breaches | UpGuardUpGuard · undated page, accessed November 10, 2026 · Tier A
  10. [10]User Risk: A Human Risk Management Platform | UpGuardUpGuard · undated page, accessed November 10, 2026 · Tier A
  11. [11]Free AI-Powered Security Questionnaires Done in MinutesUpGuard · undated page, accessed November 10, 2026 · Tier A

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