- Security awareness software company Living Security announced it raised $5 million in Series A funding led by Silverton Partners
Security awareness software company Living Security announced it raised $5 million in Series A funding led by Silverton Partners according to Crunchbase. Existing investor Active Capital and new investors Rain Capital and SaaS Venture Partners also participated in the funding.
Living Security was founded by husband and wife team Drew Rose and Ashley Rose in June 2017. Originally, they found the company out of their home in Austin, Texas. They founded the company with a mission to make cybersecurity training more engaging. This is done by using gamification learning features with immersive storylines.
Living Security started out by launching a Cyber Escape Room as its flagship product. Now it offers many more products
And now the company works with over 70 large enterprises. The company’s customers include CVS, Mass Mutual, and Amerisource.
With this round of funding, the company will be expanding its product and increase its sales and marketing teams. In connection with the funding round, Mike Dodd of Silverton Partners is going to join the board.
Living Security previously raised $1.8 million in its seed round of funding. And the company saw an 1,100% increase in annual recurring revenue in 2019 with revenue currently at about $1.5 million.