CybSafe, a UK-based cybersecurity software firm that employs behavioral science and information science to improve cyber risk management, has closed a $28m Series C funding round. It now has $40m in total funding.
Evolution Equity Partners led the round, which was also attended by Emerald Development Managers and existing investors IQ Capital as well as Hannover Digital Investments GmbH (HDI).
The company will use the funds to speed up product development and to expand its workforce, which includes cybersecurity specialists, behavioral scientists as well data scientists and software engineers. It will also concentrate on going-to-market activities, expanding into new territories, including the US.
CybSafe was founded in 2012 by Oz Alashe MBE. He is an ex-Lt. Colonel of the UK Special Forces and is now the CEO and founder. CybSafe provides software for organizations to manage human cyber risk. It measures security behavior and helps improve security controls. It offers personalized and instant support to users, allowing security teams reduce risk in dynamic environments. CybSafe is used in over 350 organisations, 15 countries. CybSafe is accredited NCSC and CIISec.
Since its Series A, the company has experienced customer growth, adding key enterprise accounts to its impressive roster of customers, now including Credit Suisse, Barclays Bank, HSBC, FNZ Group and Moody’s.