Seed funding enables the start-up to tackle the biggest cyber threats to business: their own employees
CybSafe, London, 26 April: CybSafe, a cyber security software company, today launches its platform to tackle the human aspect of cyber security using pioneering e-learning techniques grounded in behavioural science.
CybSafe, which was founded in 2015 by cyber resilience and intelligence experts from the global counter-threat specialists, Torchlight Group, has secured seed funding from financial services compliance consultancy, Regulatory Finance Solutions (RFS). The service from CybSafe is based on the simple principle that if a company’s employees learn how to improve their security-related behaviour, the employees will be more secure and so will the business.
Human error is the main cause of data breaches. According to UK Government research published on the 19th April 2017, 46 percent of companies have suffered a cyber attack in 2016 compared with just 24 percent the previous year, with 72 percent of attacks related to fraudulent emails sent to employees. It is increasingly clear that as the threats evolve, organisations need to do all they can to embed and sustain more resilient cyber security behaviour throughout their organisation. Cyber security learning is no longer a box-ticking exercise, it needs constant refreshing and testing, with a tailored approach designed to fulfil the needs of the individual and positively change behaviour.
Using intelligent software and proprietary analytics, CybSafe’s cloud-based platform learns an individual’s knowledge level and their behaviour patterns to deliver a personalised e-learning programme. Delivered through a mobile app or online, the GCHQ-accredited e-learning platform will save businesses money, not just by reducing their risk of becoming victim to a security breach, but also by delivering meaningful training that constantly evolves based on current threats.
Oz Alashe MBE, CEO and founder of CybSafe explains: "Businesses recognise that their own staff represent their greatest security vulnerability, but it’s a problem that is costly and difficult to address and this results in cursory attempts to impart information which rarely has the desired effect. CybSafe transforms cyber awareness training from a box-ticking exercise into an immersive, recurring experience that positively changes security-related behaviour."
“Most businesses – whether they have an information security team or not – don't have the expertise, capacity or resource to address the human aspect of cyber security properly. The CybSafe platform gives them the edge and helps them more effectively protect their organisation. We’re harnessing the collective lessons from across the cyber security community and making this available to all."
Michael Couzens, Managing Director of RFS comments: "CybSafe takes an innovative approach to cyber security that is proven to reduce risk within an organisation. From our own experience in financial services, it serves an immediate need that we hear requested by our customers. The company has the full package – a pioneering technology platform, an innovative approach to e-learning coupled with a strong leadership team, and we are excited to support it.”
CybSafe has already attracted blue chip clients including FTSE 100 financial institutions, leading law firms and other international companies, as well as expert partners in security and the financial services industry.
The company will use the funds from RFS to expand its headcount, with a focus on hiring business development expertise and engineers to further refine the platform.
CybSafe is a leading provider of cyber security awareness training that focuses on better protecting people from cyber threats, both at work and at home. It uses a cloud-based platform grounded in psychology and behavioural science which has been built to address the 'human factor' of cyber security.
CybSafe’s intelligent software harnesses collective lessons across the cyber-security community in a low cost per-user subscription to help businesses of all sizes improve cyber security behaviour and reduce cyber risk both internally and within its supply chain.
The GCHQ-accredited software helps business to mitigate cyber risk with greater certainty, greater impact, and more cost effectively.
In 2017 CybSafe was admitted into Level39, the prestigious technology accelerator based in Canary Wharf.
RFS is expert in helping regulated firms create better customer outcomes. The Swindon-based company operates across retail banking, investments, insurance, consumer credit and utilities - sectors which are all having to manage in the emerging regulatory landscape. With refined regulatory knowledge, operational expertise and specialist associates, RFS successfully partners with clients to deliver in areas of Outcome Testing, Remediation, Financial Crime, Root Cause Analysis and Conduct Risk. Our solutions help to alleviate regulatory pressure, mitigate against future problems and support our clients in building loyalty and advocacy with their own customers.
Founded in 2005 by the Chief Executive, John Turner, RFS successfully appeared in the 2017 FT1000 Europe’s Fastest Growing Companies and the 2016 Sunday Times Virgin Fast Track 100 with a £39.6 million of sales in 2015.
CybSafe press contacts
Sian Hobday or Tom Fry, Bright Bee PR on behalf of CybSafe: firstname.lastname@example.org / 0208 816 3170
RFS press contact
Hannah Walker, RFS: email@example.com / 07971 598287