Sunnyvale-based cybersecurity company SafeBreach announced Tuesday that it raised $53.5 million in fresh financing. The Series D, led by Sonae IM and Israel Growth Partners, will be used to help the company expand its product offering as well as its market reach.
SafeBreach aims to protect the day-to-day work activities and data of a remote workforce with its cyberattack simulation software. The software simulates hacker breach methods and runs continuous “war games” to identify weak points across network systems.
“Organizations across industries are investing enormous sums of money in an endless parade of tools that are often misconfigured or simply not optimized to deliver ROI,” Guy Bejerano, co-founder and CEO of SafeBreach, said in an email to Built In. “Our platform is designed to relieve chief information security officer (CISO) stress by ensuring the effectiveness of security controls.”
Bejerano himself worked as a CISO during his tenure at digital engineering firm Ness Technologies. At the time, he was faced with direct questions from his board about his company’s security posture and risk vulnerability. There weren’t any platforms to help him and his team easily answer said questions, according to Bejerano. Thus, the idea for SafeBreach was born.
“The product is a must-have in today’s threat landscape and our clients truly believe in the technology and our mission to change the way enterprises manage security and risk,” he continued.
Not only does the platform provide a hacker’s view of an enterprise’s security system, it also validates security controls and improves security center response times, according to Bejerano.
Following the latest raise, the company plans to continue partnering with other enterprises in the security space. SafeBreach also plans to invest in deeper integrations that will help its customers quickly resolve security issues.
Moving forward, the cybersecurity company plans to double the size of its team. SafeBreach is now hiring for eight tech roles across its sales, communications and recruiting departments.
SafeBreach has raised over $106 million in venture capital financing to date, according to the company.
Additional investors Sands Capital, Leumi Partners and ServiceNow participated in the round, among others.
