Think Cyber, has successfully completed a late seed funding round, securing £3 million (approximately $3.8 million).
The round was led by Fuel Ventures, with the total funds raised by the company now reaching £3.6 million ($4.5 million).
According to Security Week, Think Cyber specialises in mitigating risky behaviour among staff members. This approach extends beyond traditional security measures to combat phishing and other scams. The company’s flagship product, Redflags, is a subscription-based service that enhances secure behaviour through “nudging”. This method is seen as a supplement to technical controls and traditional learning, focusing on encouraging positive security practices rather than merely identifying negative ones.
The concept of nudging involves gently guiding users towards safer actions at critical moments, such as when clicking on external links or entering passwords. This proactive approach aims to cultivate good habits, leveraging psychological principles that suggest positive reinforcement is more effective than highlighting negative behaviour. Redflags delivers these nudges in real-time, precisely when users are at risk of making a security mistake.
The new funding will be used to further develop Think Cyber’s nudging technology, aiming to reduce not only external threats like phishing but also internal risks such as misdirected emails, poor password management, and insecure use of general AI technologies like ChatGPT. The investment also supports the underlying philosophy of achieving basic security hygiene to strengthen the overall security posture of organisations from the inside out.
Robert Coles, a seasoned Chief Information Security Officer (CISO) with experience at the NHS, GSK, and National Grid, praised the effectiveness of the Redflags solution. He highlighted the limitations of conventional phishing simulations and awareness campaigns, noting that Think Cyber’s approach of delivering tailored messages at critical moments could significantly enhance security awareness and behaviour.
Think Cyber was founded in 2016 by Mike Butler, the CTO with a background as the global head of information security at BAE Systems Applied Intelligence, and CEO Tim Ward, formerly global head of information services. The initial development of Redflags was supported by research grants from InnovateUK, aiming to transform staff from being seen as the weakest link in cybersecurity to a first line of defence.
Prior to this funding round, Think Cyber had raised a total of £3.6 million ($4.5 million), including the current investment, to support its mission of improving organisational security through behavioural change.
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