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17
Apr

Cybersecurity startup SafeBreach nets $19m in its Series C round

SafeBreach, a breach-and-attack simulation (BAS) platform has netted $19m in its Series C to meet rising customer demands.

The round was led by OCV Partners, with contributions also coming from previous backers Sequoia Capital, Deutsche Telekom Capital Partners, DNX Ventures, Hewlett Packard Pathfinder and PayPal.

Having closed the round, the company will look to accelerate its product development capabilities as it looks to meet growing customer needs. Capital is also earmarked to support the development of its sales channel and increase partnerships.

SafeBreach is looking to add new services to its tool suite in the near future.

The Californian company offers a breach-and-attack-simulation platform which offers a real-time “hacker view” of an enterprise’s security posture. Its technology uses this to proactively predict attacks, validate security controls and improve the security operations centre analyst response capabilities.

The platform automatically executes thousands of breach methods to validate the security of the company.

SafeBreach co-founder and CEO Guy Bejerano said, “In a continually changing threat environment, most enterprise security groups have responded by buying more security products and hoping that will make them more secure. But hope is not a viable strategy.

“Instead, CISOs and security teams need to improve their security stance on an ongoing basis and avoid the misconfigurations and security lapses of their existing security controls that make possible the vast majority of serious security incidents today.”

In conjunction to the round close, OCV partners managing principal Hemi Zucker has joined the SafeBreach board of directors.

The new round brings SafeBreach’s total equity raised to $50m.

Prior to the Series C, the cybersecurity company closed its Series B on $15m from backers including Draper Nexus, Sequoia Capital, Deutsche Telekom Capital Partners and HPE Pathfinder.

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