SoSafe, the leading global provider of cyber security awareness and human risk management solutions, just announced its Series B funding round at $73 million. This is a significant milestone in the company’s growth, as the funds will be used to fuel SoSafe’s international expansion and investments in new product development.
Let’s take a closer look at the details of this funding and what the company intends to do with these funds.
Overview of SoSafe
SoSafe is a leading provider of cyber security awareness and human risk management solutions for businesses around the world. Founded in 2011, the company has quickly grown to support more than 5 million users in over 30 countries. With a focus on increasing employee engagement and reducing risk, SoSafe helps organizations improve their security posture and prepare for potential threats.
Recently, SoSafe announced it had raised $73 million in Series B funding to ramp up its international presence and expand its product portfolio. These funds will enable SoSafe to continue investing in technology research, secure strategic partnerships, and hire new talent to support future business growth.
The Series B funding round was led by Goldman Sachs Private Capital and included Vectr Ventures among other investors, further demonstrating investment in SoSafe’s mission of mitigating the risk of data loss through better cyber security awareness solutions. These investments are expected to help meet rising demand for cyber security solutions worldwide as digital transformation continues across industries.
The most recent funding round adds to SoSafe’s prior rounds raise of $7 million in 2018 from investors such as Sequoia Capital India, Y Combinator SFLP 18/19 fund and existing investor Tencent AI lab amongst other early stage investors . The total funding stands at $80 million with this investment round making a significant impact on its international expansion plans.
What is Series B?
Series B funding is the second round of financing for a startup as it moves from development to growth stages. Generally, a series B funding round takes place when the startup has developed and tested its product, secured traction in its core market, established product-market fit, and significantly grown its user base. This is often accompanied by an established revenue stream or business model that enables faster growth.
Series B investors typically expect a higher return on investment than at previous rounds due to the company’s increased experience and recognition from earlier backers. They have usually conducted their own due diligence into the project and are confident in their decision to invest more heavily in support of international expansion plans.
Generally, startups are looking to raise anywhere between $15 million to $80 million in Series B funding — although amounts can vary dramatically depending on the company’s objectives and existing circumstances. Regardless of size, companies are expected to demonstrate revenue growth at or before the time of fundraising for series B rounds.
Investment Details
SoSafe recently announced that it has raised $73 million in Series B funding, led by Insight Partners with participation from existing investors, including F2 Capital and Valley Capital Partners.
The funding will help SoSafe expand its cyber security awareness and human risk management platform internationally and continue its mission of making the digital space a safe and secure environment.
Breakdown of the $73 million investment
SoSafe, a cyber security company that provides human risk management platforms, has secured $73 million in Series B finance to fuel international growth in its services. The funding was backed by several investors including Kreos Capital and Microsoft’s venture fund M12.
The funding will be used to expand SoSafe’s global presence and improve its existing products to meet the needs of customers worldwide. It will also enable the company to accelerate development of new features and functionality such as machine learning and artificial intelligence capabilities.
Kreos Capital has invested $35 million into SoSafe in the form of loan notes, which are expected to be converted into equity at a later date. M12 followed up with a further $38 million investment as part of their “Accelerate AI” program designed to promote the use of AI-enabled technologies within cybersecurity solutions.
With this additional capital, SoSafe has raised over $107 million since their seed funding round two years ago when it was founded by CEO Amitai Erez and co-founder Ido Shatzman in Tel Aviv, Israel.. The new funds will allow them to hire more staff globally, develop new product lines for customers around the world, and make strategic acquisitions within cyber security.
Investors involved
SoSafe, a fast growing cyber security awareness and human risk management platform, has announced their successful completion of a series B funding round. This financing was completed in September 2020 and led by Naspers through its South African-based venture arm Naspers Foundry, with participation from existing investor Vertex Ventures US.
Other investors included Gobi Partners, MDI Ventures (the venture capital arm of Telkom Indonesia), Lead K Venture Capital, GrowX Ventures and SLF Ventures. YAMM Investment Group also supported the round alongside various individual investors in Europe and the US.
This investment brings SoSafe’s total funding to date to $91 million since its founding in 2015. The capital raised will accelerate worldwide growth plans for the anti-phishing startup which helps organizations to build culture with high cyber hygiene by training people on security best practices and providing solutions for better access control in organizations.
What the funding will be used for
The new funding will primarily be used to support SoSafe’s international growth in markets such as the U.S., Europe, Asia, and Latin America. It will also support increased R&D and engineering efforts to further develop its existing products and to create new innovative technologies.
SoSafe plans to use this round of funding to continue building out its comprehensive Security Awareness Platform, a first-of-its-kind module for security professionals and businesses. The platform includes features such as automated delivery of security messages, reports on learner performance and progress metrics that measure the success of a company’s security policies. Additionally, SoSafe is currently developing a Human Risk Management platform designed to provide risk visualization throughout organizations more accurately manage employee relationships and compliance with financial regulations.
Overall, this funding will allow SoSafe to accelerate growth in existing markets while increasing business development efforts abroad. The capital will also support continued product innovation. With these investments in place, the global market for secure digital business environments is expected to expand greatly in the near future.
Impact of the Investment
SoSafe’s recent Series B funding raise of $73 million, is a major milestone for the cyber security awareness and human risk management platform, as it looks to expand its global footprint.
This infusion of capital will allow SoSafe to invest in accelerated growth and international expansion, placing the company at the forefront of the global cyber security industry.
Let’s explore the potential impact of this significant investment.
How the investment will help SoSafe
The most recent round of Series B financing for SoSafe has opened doors for the company’s expansion of its cyber security awareness and human risk management platform. This investment will help boost SoSafe’s global presence and operations by allowing it to reach new international markets, build up customer acquisition and introduce more strategic partnerships.
The funding injection will be instrumental in assisting SoSafe with building out its team and signing multi-year contracts with public entities, from organizations to government bodies. In addition, the money will enable SoSafe to invest in marketing efforts in key areas like brand awareness, lead generation and public relations, which can potentially open up a range of long-term opportunities for the company.
The capital will also be utilized to further enhance the product development process. With this latest injection of capital, SoSafe intends to use it to digitize its existing assets into a cloud platform as well as focus on developing an AI-based solution which can enable users to optimize their security processes remotely. The money will also enable SoSafe to create new features such as gamification elements which could increase user engagement within the platform.
Ultimately, this investment has allowed SoSafe to gain more customers and strengthen its foothold within the cyber security market while solidifying its position as one of the leaders in the space.
What the investment means for the cyber security industry
The $73 million Series B funding that SoSafe recently secured presents a major opportunity for users to improve and protect their online security. As SoSafe’s human-centered cybersecurity awareness platform continues to grow, the company plans to increase its coverage by launching into international markets.
This investment will help the company accelerate the development and revision of essential cyber safety tools and products tailored for organizations, government agencies, universities, hospitals, and other sensitive markets. As a result of this influx of capital, SoSafe seeks to build further partnerships with leading third-party risk management companies in order to ensure global safety and compliance standards are met.
In addition to expanding its cybersecurity services across multiple markets, this investment will enable SoSafe to conductmore in-depth research into how individuals process security messages. This research can then be used to develop more effective cybersecurity campaigns that actively engage individuals in making responsible online choices. As cybercriminals become increasingly more sophisticated in exploiting digital spaces, organizations must be armed with cutting-edge information protection practices that are suited for an ever changing digital landscape.
This Opportunity sets an important precedent which other organizations striving towards secure digital futures must take note of; it is only through substantial investments in cyber security that global populations can safeguard their personal informationand navigate safe online experiences.
Future Plans
SoSafe recently secured $73 million in Series B funding, which will be key to helping the cyber security awareness and human risk management platform expand both domestically and internationally. This funding will be instrumental in helping SoSafe create new products and services and reach new customers.
In this section, we will explore the company’s future plans and what this new round of funding will make possible.
SoSafe secures $73 million in Series B to fuel international growth of its cyber security awareness and human risk management platform
SoSafe recently secured $73 million in Series B funding with the aim of accelerating its international expansion. The capital will be used to further develop the company’s cyber security awareness and human risk management platform, which is designed to protect businesses from potential threats, from hackers to disgruntled employees.
With offices in London and San Francisco, SoSafe plans to open up additional locations across Europe and the United States this year to strengthen its presence in those markets. It also aims to reach more countries around the world by setting up distribution partnerships. This would enable the company to expand into untapped markets such as Latin America, Africa and Asia Pacific.
In addition, SoSafe plans for key hires in product engineering, sales and marketing roles this year, especially at its London headquarters. These appointments would help build on the already impressive talent pool that has been established over recent years. The idea is that with increased resources, SoSafe can develop new capabilities while continuing to improve existing products with feedback gained from customers worldwide.
How the investment will help SoSafe reach its goals
SoSafe recently secured $73 million in Series B funding to help fuel the growth and international expansion of their cyber security and human risk management platform. With this new investment, SoSafe is looking to bolster their operations in the short-term, as well as invest in strategic acquisitions and collaborations to expand their services even further. Specifically, areas like software-as-a-service applications, user interface design and machine learning capabilities will be explored for potential development.
This additional capital will also provide an opportunity for borderless initiatives that help bring together a more digitally connected world within SoSafe’s platform. The company reports plans to deploy additional resources across its global bases in Europe, North America and Asia Pacific with the mission of creating a more connected digital world with greater trust between digital citizens and organizations that share the vision of creating a safe environment within all digital activities.
With this increased financial capability, SoSafe can now look to expand product scope across its entire service offering. The additional investment puts the company closer than ever before to achieving its vision of becoming one of the top cyber security awareness providers internationally – making an impact on businesses everywhere by providing new levels of protection against cyber crime through innovative human risk management tools. This latest funding round is a testament not only to the company’s continuous successful operation but also its commitment towards making online secure environments for individuals across industries and markets worldwide.
