Living Security has netted $14m in its Series B round, which will help it expand its services beyond cybersecurity awareness training.
The round was led by Updata Partners, with commitments also coming from previous backers Silverton Partners, Active Capital, Rain Capital and SaaS Venture Partners.
Capital from the round will be used to expand Living Security beyond cybersecurity awareness training and further develop its human risk management platform. Funds will also be used to expand marker share in the human risk and awareness category.
As part of the deal, Updata general partner Jon Seeber will join the Living Security board of directors.
The Living Security human risk management dashboard shows organisations their cybersecurity risks, how they have changed over time and which teams pose the highest risks. With this information, companies can be better placed to immediately address risks with the right training.
The fresh investment has come after a strong year of growth for the company, which culminated in it tripling its revenue and employee headcount. It also doubled its customer count.
With the pandemic increasing the amount of staff working remote, Living Security stated it has increased the attack surface for cyber criminals. The cybersecurity is hoping to deepen its human risk and awareness capabilities to help meet the rise in threat.
One of its training programmes is an escape room format and when the pandemic hit, the company managed to continue these programmes via online events.
Living Security CEO and co-founder Ashley Rose said, “During the last three years, Living Security revolutionized security awareness training programs that were boring, ineffective and implemented just to meet minimal compliance requirements.
“Now, we are leading the charge to use behavioural data and analytics to measure and manage human risk. At the same time, we can deliver powerful insights to senior leaders and board members, and provide predictive interventions to employees. Our goal is to transform people from risks to assets in the defence against cyber-attacks.”
This investment comes less than a year since the RegTech bagged $5m in its Series A round.
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