Hoxhunt, a cybersecurity training platform, has scored $40m from a Series B round led by Level Equity Management.
The investment round also saw participation from Icebreaker.vc, which is one of the company’s existing investors.
Hoxhunt claims it makes good email cybersecurity a habit. The company’s gamified platform rewards employees for reporting simulated and real email threats, using machine learning to create millions of individualised phishing simulations.
The company claims it ‘lightens the load’ for security teams who can upskill whole organisations with unprecedented engagement rates at the push of a button.
Cybercrime is providing to be an ever-worsening pandemic costing global companies trillions of dollars every year, with email being the main vector of transmission as 90% of all breaches are initiated by a phishing email. Hoxhunt claims it is turning the tide on phishing attacks with breakthrough innovation.
According to Hoxhunt, the new funding willaid the development of Hoxhunt’s leading-edge technology and accelerate growth in new markets, particularly North America.
Hoxhunt CEO Mika Aalto said, “Email is the biggest threat to enterprise security; that’s why human nature is the most important cybersecurity challenge to solve, instead of building incrementally better mousetraps at the technical perimeter. Our first-to-market platform enables measurable behaviour change and cultural transformation. Our fundamentally different approach combines personalised and hyper-realistic training, adapted to each individual’s skill, role, location, and language.”
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Copyright © 2018 RegTech Analyst