Austin, Texas based startup Living Security has secured USD 14 million funds on 30th of March, 2021 in a series B funding round led by Updata Partners.
Investors: The acquisition of USD 14 million funds took place in the series B funding round led by Updata Partners along with the involvement from previous investors like Rain Capital, Active capital, Venture Partners and Silverton.
What the funding is for: The freshly acquired would be utilized to expand their company globally. According to sources, the organization is also aiming to use behavioral data and analytics to measure and manage human risk. It plans to take that data and provide “predictive interventions” to employees.
About the company: Living Security is a privately held data driven software organization which predicts analytics to protect the modern enterprise. The company operates under the computer and network security industry. Its headquarters is established in Southern, US and has a work strength of around 51-200 employees. They deal with various specialties like cyber security, human risk management, advanced security and awareness training.
What the CEO has to say: “We have seen significant increase in account growth and expansion in existing accounts, largely in part due to the scalability of our digital solution. With the success of its escape rooms and gamified training, Living Security’s team then asked themselves how they could make their efforts more predictable. We added risk management and scoring so program and security owners could become more targeted and focused on the delivery of training. So now Living Security aims to use behavioral data and analytics to measure and manage human risk.” — Ashley Rose, Co-founder of Living Security.
“We are focused on how to turn people from greatest risk to our greatest asset in cyber security. That’s our big vision for the company. With its unified human risk management platform, Living Security wants to provide an even more scalable solution. The company also plans to use its capital toward expanding its geographic reach and scaling both direct and channel sales effort. I wanted to gamify how I presented training. Our new platform is enabling us to deploy an information security academy to encourage associates and contracts to use several modes of training.” — Drew Rose, Co-founder of Living Security.
What the investors have to say: “So it’s not a big surprise that in 2020, Living Security tripled its revenue and employee headcount and more than doubled its customer count. The company declined to provide hard revenue figures.” — General Manager at Updata Partners.
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