- SafeBreach — a provider of the leading breach-and-attack simulation (BAS) platform to validate security controls, visualize security risk and prioritize remediations — announced it has raised $19 million in Series C funding
SafeBreach — a provider of the leading breach-and-attack simulation (BAS) platform to validate security controls, visualize security risk and prioritize remediations — announced it has raised $19 million in Series C funding. This round of funding brings the total amount raised to over $50 million. OCV Partners led the round with participation from existing investors Sequoia Capital, Deutsche Telekom Capital Partners, DNX Ventures, Hewlett Packard Pathfinder, and PayPal.
With this round of funding, SafeBreach plans to accelerate product development to address the growing needs of customers and to grow its sales channels and partnerships on a global scale. And the company will add a suite of new services for its rapidly growing base of customers who have embedded SafeBreach BAS into their daily operations as a means to continuously validate security posture and optimize configurations of existing security tools.
This funding round also comes following rapid customer growth and usage over the past two years. In 2018 and 2019, dozens of multi-billion dollar entities in financial services, healthcare, manufacturing, telecommunications, retail, and several other industries adopted breach and attack simulation as part of their core strategy to validate controls, improve security posture, and reduce business risk.
These companies have committed to SafeBreach as their core platform for attack simulation, security risk visualization, and prioritization. And in the the past year, the volume of monthly simulations running on SafeBreach BAS platforms worldwide has grown at a triple digit rate, eclipsing 1.5 billion monthly simulations at its peak. During this period, SafeBreach aggressively expanded its product offerings and integrations into high-demand areas like cloud-native security, risk-based vulnerability management, and security validation for remote workforces.
The company also announced key additions to its board of directors and advisory board. Hemi Zucker, Managing Principal at OCV Partners, will be joining the SafeBreach board of directors. Zucker has deep experience growing technology companies and formerly served as the CEO of cloud services and publishing company J2 Global where he grew the company from founding to a $4.5 billion market capitalization.
Plus SafeBreach has added key industry experts and practitioners to its Advisory Board including Christine Herman, VP and Head of Operational Assurance at Morgan Stanley; Yaron Levi, CISO of Blue Cross Blue Shield Kansas City; and Dr. Sunil Lingayat, Chief of Cybersecurity Strategy and Technology at T-Mobile.
Key Quotes:
“The explosive growth of cyberattacks, combined with the increasing complexity of managing IT infrastructure, creates a pressing need for continuous attack simulation. In addition, overstretched security teams need the ability to visualize their entire attack surface, receive guidance on remediation decisions, and ultimately reduce business risk. We are impressed with the rapid growth and quality of SafeBreach customers, and believe that SafeBreach is uniquely positioned to address those challenges, and to change the game for IT security.”
-Hemi Zucker, Managing Principal at OCV Partners
“In a continually changing threat environment, most enterprise security groups have responded by buying more security products and hoping that will make them more secure. But hope is not a viable strategy. Instead, CISOs and security teams need to improve their security stance on an ongoing basis and avoid the misconfigurations and security lapses of their existing security controls that make possible the vast majority of serious security incidents today.”
“Hemi Zucker will be a great asset to SafeBreach’s Board of Directors and ultimately to our customers. He has an outstanding track record of how to drive and sustain rapid growth to achieve dominant market position.”
-Guy Bejerano, CEO & Co-founder at SafeBreach
