Baffin Bay Networks Due Diligence

Run due diligence on Baffin Bay Networks: check compliance and get alerts when suppliers change.

Sweden · www.baffinbaynetworks.com · 6 vendors

Baffin Bay Networks offers a cloud-based Threat Protection Platform that provides security as a service, defending against advanced cyber threats like DDoS attacks and web application attacks. The platform utilizes real-time machine learning and global threat intelligence through its globally distributed Threat Protection Centers. The company was acquired by Mastercard in 2023.

Resilience scores

Technology vendors

Services catalogue

6 services in catalogue across 3 categories; runs on 6 sub-vendors.

Insights

Last updated 2026-05-24 · revision 1

6 direct vendors, 109 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

4 in-scope frameworks identified; showing 3.

SOC 2 (source) — No public evidence

Evidence: https://baffinbay.com/terms-of-use

GDPR (source) — No public evidence

Evidence: https://www.mastercard.us/en-us/vision/corp-responsibility/commitment-to-privacy/privacy.html, https://www.mastercard.com/content/dam/mccom/shared/footer/mastercard-bcrs.pdf

ISO 27001 (source) — No public evidence

Financials

Three-year financials

Financial Resilience Score: 8/10

Baffin Bay Networks' financial resilience is materially strengthened by its 2023 acquisition by Mastercard (NYSE: MA), an investment-grade parent (A+/A1) with over $25 billion in annual revenue. As a wholly owned subsidiary, Baffin Bay effectively inherits Mastercard's balance sheet strength, removing solvency and liquidity risk for the entity as long as the parent chooses to operate it. The business is now embedded within Mastercard's cyber & intelligence solutions portfolio alongside RiskRecon, Ekata, and NuData, providing strategic stability. Pre-acquisition, Baffin Bay was a typical VC-backed Nordic SaaS scaleup, raising a ~€5–6M Series A from EQT Ventures around 2018 with follow-on rounds. As a pre-profit growth-stage cybersecurity company, it likely operated at a loss funded by venture capital through 2022. Its recurring SaaS subscription model with flat-fee pricing supports predictable cash flow, and its mature technical stack (globally distributed scrubbing network, ML-driven mitigation, honeypot-based threat intel) provides defensible IP. Key risks include integration and brand-dilution risk as the standalone Baffin Bay identity is being subsumed under Mastercard, with demo requests redirected to riskrecon.com. The post-acquisition narrowing of marketing focus to financial institutions and payment providers limits the addressable market versus a horizontal cybersecurity vendor. Competitive pressure from Cloudflare, Akamai, Imperva, and Radware in DDoS/WAF means Baffin Bay must rely heavily on Mastercard's go-to-market to defend share.

Key strengths: Acquired by Mastercard (NYSE: MA) in 2023, an investment-grade parent (A+/A1), Mastercard parent has >$25B annual revenue providing balance sheet support, Recurring SaaS / subscription revenue model with flat-fee pricing, Mature technical stack with globally distributed scrubbing network, Embedded in Mastercard's cyber & intelligence solutions portfolio, VC backing from EQT Ventures pre-acquisition (~€5-6M Series A in 2018)

Risk factors: Integration and brand-dilution risk under Mastercard ownership, Pre-acquisition profitability uncertainty; likely operating losses through 2022, Customer concentration / payments-vertical tilt narrowing addressable market, Intense competitive landscape with Cloudflare, Akamai, Imperva, Radware, Standalone brand identity may eventually be retired, No separate financial disclosure post-acquisition within Mastercard 10-K

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