CultureAI secures £7m seed funding to reduce human security risk
CultureAI, a human risk management platform for security and awareness teams, has raised £7m in seed funding.
It raised the capital from investors including Conviction VC, Passion Capital and Senovo. Angel investors Paul Forster, founder of Indeed, and Guntram Friede, former Head of Marketing EMEA at Mulesoft, also participated in the funding round.
CultureAI’s platform helps organizations measure, mitigate and respond to all cyber risks created by their workforces. It integrates with an organization’s existing technology stack to provide actionable insights into employee security behaviors. The platform has helped manage the security behavior of more than 250,000 employees across client organizations such as NatWest, Three, Dojo, Royal Mail Group and business banking platform Tide.
The investment will be used to further improve the platform, double the size of the company’s team, and focus on research and development and new GTM strategies. CultureAI also plans to expand internationally and has already opened a second UK office in London.
Most corporate cybersecurity breaches are the result of employee security behaviors, such as clicking on phishing emails, using the same passwords across multiple applications, or storing corporate data in unapproved SaaS apps. CultureAI’s data-driven, cloud-based human risk management and automation platform helps organizations measure and mitigate these risks by providing visibility into employee security behaviors beyond running phishing simulations.
James Moore, CEO and founder of CultureAI, said: “A key goal of this investment is to accelerate our market growth and reach new domestic and international customers. We are expanding our research and development efforts, pushing the boundaries of what is possible in human risk management , creating new solutions that will help our customers stay ahead of emerging threats and move beyond security awareness training to end-to-end human risk management.”
CultureAI has quadrupled revenue in the past 12 months, moved from being a founder-led business to a growth business driven by a best-in-class sales and marketing function, and tripled its team size, attracting talent from prominent cybersecurity organizations.
Andrew Jenkins, founder and general partner at Conviction VC, said: “CultureAI is disrupting cyber security awareness with a new category of human risk management. We have been hugely impressed with its growth. In less than five years, the platform has been adopted by enterprise organizations across multiple sectors and shows no signs of slowing down. We look forward to seeing the company expand and solidify its position as a leader in human risk management.”
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