CybSafe Earns Strong Funding for Startup’s Unique Cybersecurity Platform

By Thomas Price Saturday, February 6, 2021

As the pace of technology continues to quicken, the use of the internet and computers has integrated itself as a necessary part of society both in the business world and in people’s lives. However, as computers become this integrated, the need for strong cybersecurity in order to prevent individuals and companies from getting their information stolen has grown as well. CybSafe is a cybersecurity startup that has created a completely unique platform with more emphasis on behavior than technology. This human approach to cybersecurity has netted the startup a strong Series A funding round as many different companies and investors see the potential that the product can offer.

Person signing into a secured app on a smartphone.

CybSafe’s Platform and Usage

CybSafe is a cybersecurity startup based in the UK that has launched a platform that takes into account the behavioral side of security. While the technology most cybersecurity companies develop is sound, that often does not prevent security breaches. In fact, this is largely the case due to human error, as 90% of data breaches are a result of a human mistake instead of the technology failing. The startup neutralizes this threat through a series of features most businesses do not take into account when creating strong cybersecurity.

CybSafe helps keep companies safe not only through their state of the art technology but also through their Awareness Hub, Behavior Change Hub, Culture Hub, and Managed Service Hub.

The Awareness Hub helps the business provide advice, news, awareness tools, and security training to users. The company’s Behavior Change Hub makes a difference by offering simulated social engineering, security goal setting, risk analysis, and personalized interventions. The Culture Hub created by the startup assesses the security culture of a business, analyzes sentiment, and provides user-level insights. Finally, the Managed Service Hub offers collaborative program planning and user support.

The startup has proven itself incredibly useful in keeping companies and businesses safe from their own mistakes leading to several major names using them for their own cybersecurity. Some of these companies and organizations include the UK government, Just Eat, BDO, and Air Canada.

CybSafe’s Recent Funding Round and Future Plans

In CybSafe’s Series A funding round, the startup raised a strong $7.9 million. The funding round was led by IQ Capital with participation from Hanover Digital Investments, GmbH, and B8 Ventures. The company plans on using this new funding in order to expand its own business to reach new clients and build out the user base. Especially with the COVID-19 pandemic forcing the majority of business to be conducted from home, the risk for security breaches has never been higher. In combination with the new funding, CybSafe looks primed to see new business roll in at a very high rate.

When commenting on the latest funding round, CEO and Founder of CybSafe Oz Alashe MBE said, “The world has changed and so CybSafe is designed to educate, support, and assist users. It improves security culture in a way that can be measured and gives unparalleled insights in a way that allows our customers to pre-empt security problems. We’re making it easy to manage human cyber risk. And we’re delighted to have incredible investors that support our vision for a safer and better digital world for all people.”

About the Author

Headshot for author Thomas Price

Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.

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