SoSafe: Taking a user-centered approach to cybersecurity

After raising $73m we take a look at SoSafe who plan to accelerate its presence in international markets and scale the development of its security solution

Founded in Cologne, Germany, in 2018 by Dr. Niklas Hellemann, Lukas Schaefer, and Felix Schuerholz, SoSafe empowers organisations to build a security culture and mitigate risk with its GDPR-compliant awareness programmes.

Serving more than 1,500 customers worldwide, the company is recognised as a European leader in security awareness and training. It is powered by behavioural science and smart algorithms, which enable SoSafe to deliver personalised learning experiences and smart attack simulations that turn employees into active assets against online threats.

 

Accelerating the company’s global expansion and product development 

Most recently the company has raised a $73 million Series B funding round led by growth-capital fund Highland Europe. Existing investors Acton Capital and Global Founders Capital were joined by SAP Hybris founder and Celonis Advisory Board member Carsten Thoma, together with La Famiglia as well as Adjust founder Christian Henschel as participants.

SoSafe plans to use the latest funding to double down on its global expansion and further develop its product.

Dr. Niklas Hellemann – psychologist, co-founder and managing director of SoSafe says: “Challenging the existing paradigms in security awareness and human risk management, we have seen tremendous adoption of our platform and extraordinary growth. We will now increase our international footprint further as well as advance our position as the leading second-generation security awareness and human risk platform, deeply rooted in behavioural science.”

 

Protecting important threat surfaces

According to SoSafe cybercrime is rising and is expected to cost organisations an alarming $6T in 2021 alone.

On average, 37% of organisations worldwide were victims of a ransomware attack, according to a survey carried out between January and February 2021. India saw the highest rate, with over two-thirds of organistions saying they experienced a ransomware attack in the last year. 

“SoSafe’s founders have built a trusted cybersecurity awareness and testing platform, underpinned by behavioural analytics and human risk scoring that sustainably protects the most important threat surface in cybersecurity – human security breaches. They have rapidly emerged as one of the leading software scale-ups, experiencing incredible momentum in a short period of time. As they expand their product and market vision, we have no doubt SoSafe will join the ranks of the latest global category leaders,” commented Highland Europe’s Gajan Rajanathan.

 

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