Unlike traditional rating companies, Sigma Ratings is focused on emerging markets and provides novel, dynamic, entity-level conduct risk analytics that are not available anywhere else. By collecting and quantifying specific operational risk data around compliance, governance and other non-credit risk factors, Sigma Ratings helps its growing client base massively improve their ability to assess and monitor important counterparty risk elements.  Its ratings also provide a mechanism for emerging market financial institutions to highlight efforts to manage risk, allowing them to differentiate and create new business relationships.

http://markets.businessinsider.com/news/stocks/sigma-ratings-the-world-s-first-non-credit-risk-ratings-agency-closes-2-4-million-series-seed-funding-1027336249