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
AUSTIN, Texas, April 8, 2020 (Newswire.com) - 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.
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.
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.
Living Security's innovative approach to security awareness focuses on engaging employees with cybersecurity through immersive learning techniques and leverages behavioral science to form positive security behaviors. Retention is 16X greater when you learn through experience versus traditional methods of delivering training. "Living Security is on the cutting edge of where we need to get to in terms of how we are training our associates—gamification and small tidbits of information at a pace that works for them," says AmerisourceBergen's Manager of Information Security Training. While delivering training that works on the front end, Living Security's platform is collecting data that provides actionable insight to program owners to measure risk and fine tune their program.
"We are proud of all that Living Security has accomplished since our initial investment in 2018. Living Security is taking its immersive security awareness training experiences to the next level with a platform that engages the enterprise and gets results," said Pat Matthews, Founder of Active Capital.
To learn more about engaging your employees with security and book a demo, please visit livingsecurity.com or email sales@livingsecurity.com.
About Living Security
Living Security, based in Austin TX, reduces the #1 cybersecurity risk for enterprises, human error, through engaging and impactful security awareness training that is brought to life by innovative tech-enabled experiences. The Company's immersive training experiences engage the enterprise using science-backed techniques to motivate behavior change and refreshed content that's relevant for the current threat landscape.
About Silverton Partners
From idea to exit, Silverton Partners works with exceptional entrepreneurs who are committed to attacking growth markets and building lasting companies. In partnering with Silverton, companies benefit from the firm's deep network and lessons learned over many decades of operating and investing experience. Founded in 2006, Silverton Partners is based in Austin and has been the initial investor behind WP Engine, SpareFoot, SailPoint, Silicon Labs, TurnKey, The Zebra, AlertMedia, SpyCloud, Convey, Aceable, and Billie, among many others. CB Insights has recognized Silverton as the most active venture capital firm in Texas. For more information, visit www.silvertonpartners.com.
About Active Capital
Active Capital is a venture firm designed to lead seed rounds for B2B SaaS companies outside of Silicon Valley. The firm is founded and run by former B2B SaaS founders with hands-on experience starting, building, and scaling high growth businesses in underdog cities across America. Active Capital is headquartered in San Antonio, Texas and invests in B2B SaaS companies all over. To learn more, please visit https://www.activecapital.com.
Source: Living Security
