London-headquartered Human Risk Management Platform CultureAI, has snapped $10 million in Series A funding. The funding was jointly led by Mercia Ventures and Smedvig Ventures (which backed Mavenoid and EdgeTier) with existing investors Passion Capital and Senovo.
With this amount, the company will invest in the evolution of its product and expand its team across all departments, aiming to double headcount over the next 12 months. Additionally, it plans to increase its market profile and presence in the US.
Adam Lovell, Investor at Mercia Ventures stated: “CultureAI is at the forefront of developments in the emerging field of human risk management. With a deep understanding of the challenges that companies face, James and his team have developed a holistic solution that can secure businesses against a wide range of cyber threats. We believe the company is poised to achieve break-out growth. The funding will help it to further target a global audience and establish itself as a market leader.”
Joe Knowles, Partner at Smedvig Ventures added: “It is widely accepted that human error is the most prevalent vector for cyber-attacks and is poorly protected against by ineffective training programmes. Advanced analytics applied to real-time behavioural data presents an original approach for CISOs to control human cyber risk. CultureAI is pioneering this with its market-leading software, offering immediate visibility and mitigation of vulnerabilities. James has an incredible reputation as a thought leader in the space and we are excited to partner with him and his team alongside Mercia Ventures.”
What challenge does it tackle?
Despite many companies investing heavily in awareness and training programmes over the years, it is predicted that 90% of data breaches in 2024 will involve human error as infrequent security training doesn’t change employee behaviour.
CultureAI takes a data-driven approach to enable organisations to monitor, reduce, and fix human cyber risk with an innovative Human Risk Management Platform that empowers organisations to identify workforce security risks, coach employees in the moment, and automate fixes.
What does the company do?
Founded by James Moore in 2015, CultureAI helps organisations move beyond security awareness training and take a data-driven approach to human risk management that sees employees preventing security incidents rather than creating them.
The CultureAI platform enables organisations to measure real-time employee behaviours and reduce and fix human cyber risks wherever employees are working, from email to instant messenger to SaaS apps.
CultureAI’s cyber security awareness platform is used by organisations of all sizes to surface employee security behaviour data and use it to drive personalised security coaching, technical interventions and security nudges that help employees fix security risks they create in a single click.
James Moore, founder and CEO of CultureAI said: “Imagine having a team of thousands who deeply understand your business and its employees. If this team could review, understand, and fix risks generated by each employee at source, breaches could be reduced by around 80%. While it’s impractical to build such a team, we can emulate its effectiveness using intelligent technology.”
Aaron Paddison, Associate Director – Cyber Security at Peninsula Group discusses the value CultureAI brings to their organisation: “We recognised blanket training was having very little real impact when it came to improving employee security behaviours and we wanted a more targeted solution. CultureAI has been a game-changer for us in terms of understanding what our people are doing. Rather than relying on training modules, which people immediately forget, we can intervene as and when a risk is occurring.”
What do we think about CultureAI?
The company, leveraging its $10 million Series A funding, is set for significant growth. By doubling its headcount and expanding in the US, it aims to solidify its position as a leader in human risk management. Its innovative platform, focusing on real-time behaviour data and personalised interventions, addresses critical gaps in cybersecurity.
With backing from major investors, CultureAI is poised to revolutionise how organisations manage and mitigate human cyber risks.
