CybSafe, the behavioural science-based cyber security e-learning platform, has announced that it has closed its Series A investment round, having generated £3.5 million, today.
According to the firm, who is based in the renowned Canary Wharf connected community Level39, the investment will be used to develop their intelligent software platform further.
The fundraising builds on a big year for CybSafe, whose platform has been adopted by over 100,000 users and over 140 organisations, including major organisations such as; Lloyds Bank, John Lewis, Just Eat, and Premier League.
Oz Alashe, CEO of CybSafe, said: “With the rising threat of cyber crime as well as the new obligations presented by changing data protection legislation, a business can no longer turn a blind eye to cyber security awareness, behaviour and culture within their organisations. Boards increasingly recognise cyber security as their most pressing risk, given the significant fines and reputational damage that accompany a successful breach.”
“However, cyber security awareness and training have historically been viewed as a tick-box exercise. Existing programmes – which often focus on knowledge, but don’t cultivate changes in behaviour – are largely ineffective. Through a combination of behavioural science, data analytics, and machine learning capabilities, CybSafe offers companies the ability to dramatically improve their human cyber defences and reduce business risk.”
Alashe added: “We’re excited by the overwhelming support we continue to receive from the investor community and the UK cyber security technology sector. It signals great confidence in our business model and team. We’re also excited to put this new capital to work for our customers to rapidly mature our product and further advance the use of intelligent technologies to help address today’s human cyber security challenges.”