SafeBreach, provider of the leading breach-and-attack simulation (BAS) platform to validate security controls, visualize security risk and prioritize remediations, announced that it has secured $19 million in Series-C funding. The round brings the total amount of capital raised by SafeBreach to over $50M. OCV Partners led the round with participation by previous investors Sequoia Capital, Deutsche Telekom Capital Partners, DNX Ventures, Hewlett Packard Pathfinder, and PayPal. SafeBreach will use the additional funding to accelerate product development to address the growing needs of customers and to accelerate sales channel and partnership growth on a global scale. In addition, the company will add a suite of new services for its rapidly growing base of customers who have embedded SafeBreach BAS into their daily operations as a means to continuously validate security posture and optimize configurations of existing security tools.
“In a continually changing threat environment, most enterprise security groups have responded by buying more security products and hoping that will make them more secure. But hope is not a viable strategy,” says Guy Bejerano, co-founder, and CEO of SafeBreach. “Instead, CISOs and security teams need to improve their security stance on an ongoing basis and avoid the misconfigurations and security lapses of their existing security controls that make possible the vast majority of serious security incidents today.”
The funding round comes after rapid customer growth and usage during the past two years. In 2018 and 2019, dozens of multi-billion dollar entities in financial services, healthcare, manufacturing, telecommunications, retail, and other industries adopted breach and attack simulation as part of their core strategy to validate controls, improve security posture and reduce business risk. They committed to SafeBreach as their core platform for attack simulation, security risk visualization, and prioritization.
During the past 12 months, the volume of monthly simulations running on SafeBreach BAS platforms worldwide has grown at a triple-digit rate, eclipsing 1.5 billion monthly simulations at its peak. During this period, SafeBreach has aggressively expanded its product offerings and integrations into high-demand areas including cloud-native security, risk-based vulnerability management and, most recently, security validation for remote workforces.