Security awareness software platform Living Security has collected $5m in its Series A round which was led by Silverton Partners.
Additional support came from previous backer Active Capital and new investors Rain Capital and SaaS Venture Partners. In conjunction with the deal, Silverton Partners general partner Mike Dodd will join the company’s board of directors.
The Texas-based company provides businesses with cybersecurity training programmes which leverage gamified learning techniques to help employees better understand risks. Its “Cyber Escape Room” is a physical escape room which combines action immersive story lines, role-based micro modules and reporting, including human risk scoring for businesses.
There are also online educational games online which also help to improve the security awareness in companies.
Living Security CEO Ashley Rose said, “The Series A financing builds on an exceptional year for Living Security, which saw a rapidly growing roster of clients, executive appointments, and market momentum.
“Given the current pandemic, we have seen a tremendous increase in remote workforce. We expect many of these positions to remain remote, placing businesses at an increased risk. We want to help ensure our clients are protected as they get back on their feet.”
With the new equity, the company hopes to expand its SaaS product development and increase its sales and marketing efforts.
Silverton Partners general partner Mike Dodd said, “Human error and lack of awareness are the primary cause of enterprise security breaches. Living Security’s offering is well-timed with the rapidly increasing demand for cybersecurity solutions. The company’s product is an intelligent data application that integrates back into the overall risk strategy for the enterprise.”
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