CultureAI, a human risk management platform for security and awareness teams, has raised £7m in seed funding.
It raised the capital from investors including Conviction VC, Passion Capital, and Senovo. Angel investors Paul Forster, founder of Indeed, and Guntram Friede, formerly Head of Marketing EMEA at Mulesoft, also participated in the funding round.
CultureAI’s platform helps organisations measure, reduce, and respond to all cyber risks created by their workforces. It integrates with an organisation’s existing tech stack to surface actionable employee security behaviour insights. The platform has helped manage the security behaviours of more than 250,000 employees across customer organisations such as NatWest, Three, Dojo, Royal Mail Group, and business banking platform Tide.
The investment will be used to improve the platform further, double the size of the company’s team, and focus on research and development and new GTM strategies. CultureAI also plans to expand internationally and has already opened a second UK office in London.
Most corporate cybersecurity breaches are a result of employee security behaviour, such as clicking on phishing emails, using the same passwords across multiple applications, or storing corporate data in unapproved SaaS apps. CultureAI’s data-driven, cloud-based human risk management and automation platform helps organisations measure and reduce these risks by providing visibility of employee security behaviour beyond running phishing simulations.
James Moore, CEO and founder of CultureAI, said, “An important goal with this investment is to accelerate our market growth and reach new domestic and international customers. We’re expanding our research and development efforts, pushing the boundaries of what’s possible in the field of human risk management, and creating new solutions that will help our customers stay ahead of emerging threats and move beyond security awareness training into end-to-end human risk management.”
CultureAI has quadrupled revenues in the last 12 months, moved from being a founder-led business to a growth business driven by a best-in-class sales and marketing function, and tripled its team size, attracting talent from prominent cyber security organisations.
Andrew Jenkins, Founder and General Partner at Conviction VC, said, “CultureAI is disrupting cybersecurity awareness with a new category of human-risk management. We’ve been hugely impressed by its growth. In less than five years, its platform has been adopted by enterprise organisations across multiple sectors and shows no signs of slowing. We look forward to watching the company expand and solidify its position as a leader in the field of human risk management.”
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