CultureAI raises £7 million in seed funding
CultureAI, a human risk management platform for security and awareness teams, has recently announced it has raised seven million pounds in seed funding, with investment from Conviction VC, Passion Capital; Senovo; and angel investors Paul Forster, founder of Indeed; and Guntram Friede, formerly Head of Marketing EMEA at Mulesoft.
The investment will be used to improve the platform further and double the size of the company’s team, with a strong focus on R&D and new GTM strategies. This builds on a period of impressive growth. To date, CultureAI has helped to manage the security behaviours of more than 250,000 employees across customer organisations. This includes NatWest, Three and Dojo, and more recently Royal Mail Group and business banking platform Tide. CultureAI also opened a second UK office in London in February, ahead of its plans to expand internationally.
Most corporate cybersecurity breaches are a result of employee security behaviour, such as clicking on phishing emails, using the same passwords across multiple applications, or storing corporate data in unapproved SaaS apps. Typically, organisations are unable to capture or measure this, because they lack visibility of employee security behaviour, beyond running phishing simulations. CultureAI is a data-driven, cloud-based human risk management and automation platform for security and awareness teams that helps organisations measure, reduce, and respond to all cyber risks created by their workforces.
The platform integrates with an organisation’s existing tech stack to surface actionable employee security behaviour insights. This data drives personalised security awareness coaching to reduce risky behaviours, reinforced by automated technical interventions if the behaviours persist, and security nudges to empower employees to fix their own security risks all in a single click.
James Moore, CEO and Founder of CultureAI said: “Despite organisations investing heavily into content-based security awareness training, most security incidents are still caused by human mistakes. IT and security teams use our platform to surface behavioural data, spot these mistakes and empower employees to resolve them. Our clients are empowered to prevent any recurrence of these mistakes much more effectively than they would with traditional security awareness training.
“An important goal with this investment is to accelerate our market growth and reach new domestic and international customers. We’re expanding our research and development efforts, pushing the boundaries of what’s possible in the field of human risk management, and creating new solutions that will help our customers stay ahead of emerging threats and move beyond security awareness training into end-to-end human risk management.”
Since first launching in 2018, CultureAI has quickly gained recognition from prominent organisations in various sectors, including finance and government, seeking to transform their security cultures. In the last 12 months, CultureAI has quadrupled revenues and moved from being a founder-led business to a growth business driven by a best-in-class sales and marketing function. The team has more than tripled in size (to 35) attracting talent from prominent cybersecurity organisations.
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’ve been hugely impressed by its growth. In less than five years, its platform has been adopted by enterprise organisations across multiple sectors and shows no signs of slowing. We look forward to watching the company expand and solidify its position as a leader in the field of human risk management.”