Breach and attack simulation startup SafeBreach announced that it has raised US$53.5 million in Series D funding, bringing the company’s total funding to over US$106 million.
Led by Sonae IM and Israel Growth Partners (IGP), the round was also joined by Sands Capital, Leumi Partners, ServiceNow, Sequoia Capital, DTCP, DNX Ventures, OCV Partners, and PayPal.
The new capital will fuel the company’s plans to expand its market footprint to new geographies and evolve its offerings in response to client needs.
Carlos Alberto Silva, Managing Partner at Sonae IM and Assaf Harel, General Partner at IGP will be joining the SafeBreach board, and Scott Frederick, Managing Director at Sands Capital will be added as a board observer.
According to Gartner, organizations that use the risk-based vulnerability management method will experience 80 percent fewer breaches. The SafeBreach platform presents findings in customised dashboards, enabling stakeholders to focus on the biggest risks to the organization.
“As we enter a new phase of growth, this investment will significantly expand our go-to-market capabilities while simultaneously increasing availability of our widely used continuous security validation platform in large and global scale enterprises.
In our evolving threat landscape, many organizations have responded to threats in their environment by buying more security products and hoping that will make them more secure. But hope is not a viable strategy – a holistic view of risk is needed.”
said Guy Bejerano, Co-founder and CEO of SafeBreach.
This article first appeared on Fintech News Switzerland.