Breach and Attack Simulation Firm SafeBreach Gets $19 Million in FundingBreach and Attack Simulation Firm SafeBreach Gets $19 Million in Funding
This brings SafeBreach's total funding to more than $50 million.
April 17, 2020
SafeBreach, which provides a breach-and-attack simulation (BAS) platform, has obtained $19 million in Series-C funding.
The round brings SafeBreach’s total funding to more than $50 million. OCV Partners led the round with participation by previous investors.
SafeBreach will use the new money to accelerate product development. In addition, it will accelerate sales channel and partnership growth on a global scale.
The company will add new services for customers that have embedded SafeBreach attack-and-breach simulation into their daily operations.
SafeBreach’s Guy Bejerano
Guy Bejerano is SafeBreach’s co-founder and CEO. He said there’s high demand for breach-and-attack simulation services.
“We have received significant interest over the past year from numerous organizations to partner with SafeBreach and with this funding we can dramatically expand these efforts,” he said. “First, we will use the funding to hire top-notch people with many years of experience growing channels in the information security realm.”
SafeBreach recently hired Peter Ritter as director of worldwide partner programs. He established Cylance’s MSSP business and grew it into a multimillion-dollar business line by the time Cylance was acquired by BlackBerry.
“We will be investing heavily in partner enablement capabilities and training,” Bejerano said. “We now have the funds to create better training curriculums and programs to help channel partners become experts in our technology and to provide the necessary resources to help them deliver it effectively.”
SafeBreach has a detailed road map of product enhancements for partners to better integrate and utilize the company as part of their solution stack, he said.
“With these enhancements, partners will be able to easily scale, deploy, monitor and tune their offerings across a broad range of clients, as well as provide robust, industry-leading reporting and remediation guidance to clients,” Bejerano said.
Monthly simulations running on SafeBreach BAS platforms are growing at a triple-digit rate globally.
SafeBreach has expanded its product offerings and integrations into cloud-native security, risk-based vulnerability management and security validation for remote workforces.
Most of SafeBreach’s business comes through partners, Bejerano said.
“More specifically, our VAR partners are using SafeBreach to help validate the security controls they implemented at their clients that proves their security stance is rock solid,” he said. “For MSSPs, SafeBreach enables them to offer BAS as a service to their customers. Using SafeBreach, MSSPs can leverage simulations they run against clients’ infrastructure to provide tactical and strategic remediation plans to address gaps and to improve the organizations’ security posture.”
Major cybersecurity companies like Microsoft, cyber consulting firms like Deloitte and integration partners like BlackBerry Cylance and SentinelOne have partnered with SafeBreach. They deliver simulations to Fortune 500 organizations.
Expanding these partnerships and channels broadens SafeBreach’s market reach. These initiatives also will increase awareness of BAS.
“The explosive growth of cyberattacks, combined with the increasing complexity of managing IT infrastructure, creates a pressing need for continuous attack simulation,” said Hemi Zucker, OCV Partners’ managing principal. “In addition, overstretched security teams need the ability to visualize their entire attack surface, receive guidance on remediation decisions, and ultimately reduce business risk. We are impressed with the rapid growth and quality of SafeBreach customers and believe that SafeBreach is uniquely positioned to address those challenges and to change the game for IT security.”
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