Cyber security software firm closes £3.5m Series A investment round
Today (September 4), CybSafe, a data-driven cyber security software platform that helps organisations reduce human cyber risk by addressing awareness, behaviour, and culture, has raised £3.5m in a Series A funding round.
Founded in 2015 and launched to market in 2017, CybSafe helps protect enterprise and SMEs in the UK and 11 other countries around the world.
Its cloud-based platform makes tangible changes to employee behaviour to combat threats on topics such as phishing, social media use and public WiFi.
The investment will be used to further develop CybSafe’s intelligent software platform as well as accelerate revenue generation and growth.
The fundraising builds on a year for CybSafe, which has seen the firm grow in adoption and sees over 100,000 users and over 140 organisations with access to the platform.
The company works with a rapidly growing roster of customers including high-profile businesses from the finance, retail, and legal sectors.
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, 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.”
CybSafe is GCHQ-certified and IISP-accredited. The company is endorsed by the Law Society and is a RegTech partner of the FCA.
CybSafe is headquartered at the London tech community, Level39, in Canary Wharf.
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 excited to put this new capital to work for our customers to mature our product and further advance the use of intelligent technologies to help address today’s human cyber security challenges.”