Cyber security startup CybSafe, a “ behavioral security ” platform, raised $ 7.9 million in a Series A funding round led by IQ Capital with participation from Hanover Digital Investments ( HDI) GmbH and B8 Ventures. The investment cycle will be used to focus on expanding its business and midsize customer base. CybSafe is a SaaS product with a user-based subscription licensing model.
As most tech people know, the big security concern is not so much the system as it is people. Indeed, 90% of data breaches in the UK are usually due to human error, for example.
CybSafe’s “ behavior-driven ” platform manages these people-related security risks using behavioral science and data analytics by providing personalized cyber support to users. The company already has 350 clients in 15 countries, including Credit Suisse, Air Canada, HSBC and NHS Trusts.
Launched in 2017, the company was founded by an expert in cyber resilience and intelligence, Oz Alashe MBE, former lieutenant colonel of the British army and British special forces, first black officer to serve in the parachute regiment and British special forces. The team includes former UK government cybersecurity specialists, behavior specialists, data scientists and software engineers.
Alashe says the platform helps users develop safety skills and habits through “accredited micro-learning content, adaptive support material, and personalized guidance. The combination of contextualized, just-in-time and on-demand content ensures that users get the help they need. They get it whenever they need it. And they’re getting it in the way that’s most likely to help them. »The platform is available in 9 different languages.
CybSafe is delivered via a mobile app or in a browser, displaying tips, alerts and small notifications.
Competitors to CybSafe include KnowBe4, Wombat Security, and Infosec, but Alashe says the strength of CybSafe is that it addresses security awareness for the average person: “Security awareness is dead. It is ineffective. It is ineffective. And it’s broken. CybSafe uses behavioral science and data analytics to deliver behavioral safety interventions that work. It has efficiency rates of over 90% for certain behaviors to prove it.
The team includes Jonathan Webster, CTO who previously worked on Her Majesty’s Government digital services; Dr John Blythe, Behavioral Science Officer and Chartered Psychologist at the British Psychological Society.