- Right-Hand Cybersecurity announced it has raised $5 million.
Right-Hand Cybersecurity – a company that pioneered in Human Risk Management for cybersecurity – announced a successful $5 million Series A funding round led by former PayPal executive Jack Selby and his firm AZ-VC, the largest venture capital firm in Arizona. With this funding round, Right-Hand will expand its operations across the U.S. and Asia-Pacific and invest heavily in their Human Risk Management platform, which efficiently integrates with other commonly adopted and relied upon security solutions.
The company’s Human Risk Management platform aggregates employee security behaviors and alerts in real-time from its existing platform and other market-leading Endpoint Detection & Response (EDR), Email Security and Identity and Access Management (IAM) technologies, and assigns different behaviors a risk score that could be easily interpreted among key stakeholders to gain visibility into employee risk in plain business terms.
From there, Right-Hand’s platform then analyzes the collated employee data to generate real-time interactive and adaptive training that enables individuals to master cybersecurity behaviors that keep their organizations and themselves safer online. And Right-Hand plans to continue expanding its platform integrations across the most commonly adopted technologies in their customers’ environments to help the data from each disparate product play a major role in improving employee behaviors and lowering their risk tendencies.
In terms of the total addressable market, global cybercrime damages are expected to reach $10.5 trillion annually by 2025; global ransomware costs will likely exceed $265 billion by 2031; and cybercrime is predicted to cost $30 billion globally by 2025. And it’s worth mentioning that most cybersecurity breaches are caused by human error, and behavior change and the human role in cybersecurity has never been more important.
KEY QUOTES:
“What differentiates Right-Hand is that we go beyond just ‘checking the box’ for improving user behaviors to reduce cybersecurity risks. We provide an ongoing overview of employee risk profiles and tailor learning materials specifically to individual behaviors to help reduce security alerts that inundate the Security Operation Center (SOC) – a radical departure from the ‘one size fits all’ security awareness approach that’s become the unfortunate norm in this space. Right-Hand and our customers see this as the future for human layer security.”
— Founder and CEO Theo Nasser
“As an investor and entrepreneur, I’ve seen far too many companies try to tackle cybersecurity challenges solely from the perspective of perimeter defenses that overlook the human element – the opposite of Right-Hand’s approach. Right-Hand is breaking this dogma of ‘check of the box’ security training by creating a platform that changes behaviors and significantly reduces security risks in real time. I’m proud to support such a purposeful team and company in Right-Hand.”
— Jack Selby, former PayPal executive and founder of AZ-VC, the largest venture capital firm in Arizona
“We’re pleased to be working with Right-Hand Cybersecurity, utilizing the company’s innovative, adaptive, and gamified approach to help train our employees in cybersecurity as part of our ongoing efforts to minimize fraud. Right-Hand’s focus on people and how human behavior relates to cybersecurity is a smart way to support risk management in this critical area.”
— Victor Vinogradov, Chief Information Security Officer of Western Alliance Bank
“We’ve worked with Right-Hand Cybersecurity for a couple of years, and they are giving security awareness training purpose again. With Right-Hand, security awareness is not just about checking the box anymore, it is about Human Risk Management being able to measure and pinpoint which employees are most breach prone that require just-in-time training to reduce risk. Our organization has seen amazing results with Right-Hand, and we’re excited for the future of their company and the much-needed spark plug they are providing to the security awareness market.”
— The Chief Information Security Officer of Real Time Resolutions Randy Potts
