Living Security Raises $5 Million to Help Big Enterprise With Security Awareness Training in a Work From Home World
Silverton Partners Leads the Round, Company Plans to Add Gamified Learning Platform for Remote Workforces
Living Security, a provider of security awareness software for enterprise customers, has announced a $5 million Series A funding round, led by Silverton Partners with participation from existing investor Active Capital and new investors Rain Capital and SaaS Venture Partners. With the financing, Mike Dodd of Silverton Partners will join Living Security’s Board of Directors.
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Founded in Austin, TX, Living Security officially launched in 2017 with its innovative Cyber Escape Room. The company has since focused on its best-in-class online cyber security training platform that leverages gamified learning with live action immersive storylines, role-based micro modules, and reporting including human risk scoring for the organization.
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Living Security now works with over 70 large enterprises to train their global workforce to better protect sensitive data and secure their organizations. Living Security CEO Ashley Rose said, “The Series A financing builds on an exceptional year for Living Security, which saw a rapidly growing roster of clients, executive appointments, and market momentum. Given the current pandemic, we have seen a tremendous increase in remote workforce. We expect many of these positions to remain remote, placing businesses at an increased risk. We want to help ensure our clients are protected as they get back on their feet. The funding will be used for expansion of SaaS product development and growth of our sales and marketing functions.”
Cybercriminals are increasingly targeting organizations through their employees, and the checkbox approach to training leaves them vulnerable. “Human error and lack of awareness are the primary cause of enterprise security breaches. Living Security’s offering is well-timed with the rapidly increasing demand for cybersecurity solutions. The company’s product is an intelligent data application that integrates back into the overall risk strategy for the enterprise,” said Mike Dodd, General Partner of Silverton Partners.
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