Tech platform secures £5.6m to manage human cyber risk
A London-headquartered cybersecurity specialist has secured multi-million pound investment to develop its platform.
CybSafe has raised £5.6m in a Series A1 investment round in a bid to expand its proposition and manage human cyber risk.
The round was led by deep tech investors IQ Capital, with participation from Hannover Digital Investments GmbH (HDI Group) and B8 Ventures.
Founded by former UK Special Forces Lieutenant Colonel Oz Alashe MBE, the CybSafe uses audit data from multiple systems such as Gsuite and Azure to help manage human cyber risk.
This latest investment will be used by the firm to enhance the platform’s go-to-market capability as well as develop its technology and research capability.
Oz Alashe, CEO and founder of CybSafe, commented: “We believe in people. And we passionately believe in the impact data and behavioural science can have on human cyber risk management. Our platform is for organisations who ultimately want to do more than rely just on e-learning and phishing simulations.
“It’s a platform that can grow with them through to when they are ready to measure security behaviour change. The world has changed and so CybSafe is designed to educate, support and assist users. It improves security culture in a way that can be measured and gives unparalleled insights in a way that allows our customers to pre-empt security problems.
“We’re making it easy to manage human cyber risk. And we’re delighted to have incredible investors that support our vision for a safer and better digital world for all people.”
Kerry Baldwin, managing partner at IQ Capital, added: “CybSafe’s data modelling of employee security behaviours and habits is game-changing. They are transforming the security industry by pioneering the use of data to address the human aspect of cyber security.
“It’s an area that has been under-served to date. Leveraging proprietary and third-party data – and robust behavioural psychology – their risk-models will enable security teams to predict areas of user-related vulnerability, and the platform will deliver personalised interventions.
“They are at the forefront in this data space and have built one of the UK’s highest-potential cyber security companies. We’re excited to lead the funding round and be part of this growing movement of change-makers focused on human cyber risk.”
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