Startups

Germany’s SoSafe raises $73M Collection B led by Highland to deal with human mistake in cyber – TechCrunch

As we’ve learned in the last several yrs, “human error”-led cybersecurity breaches are the ones providers normally come across most difficult to guard versus. Surveys counsel some 85% of assaults can be traced back again to the human aspect. Hence startups designed to alleviate this gap — this sort of as the U.K.’s Cybsafe, which raised $7-9 million final 12 months — are proliferating. Addressing human habits is plainly just one of the best new regions for cyber.

The newest to scale up in this place is SoSafe. The Cologne-dependent cybersecurity recognition and screening platform has now lifted a $73 million Series B funding spherical led by development-cash fund Highland Europe.

Existing traders Acton Funds and World-wide Founders Capital were being joined by SAP Hybris founder and Celonis Advisory Board member Carsten Thoma, with each other with La Famiglia as perfectly as Adjust founder Christian Henschel as individuals.

SoSafe competes with platforms like Knowbe4 (that went community in 2021) and Cofense, which has elevated $58 million to date.

SoSafe suggests it can take a user-centered strategy to cybersecurity, applying insights from behavioral science to nudge end users in the correct, and safer, path, applying gamified procedures to instruct end-end users what to glimpse out for in a cyber attack.

It now has more than 1,500 clients, including Aldi, Ceconomy AG, Taylor Wessing, Vattenfall and Valtech.

Dr. Niklas Hellemann, co-founder and running director of SoSafe, said: “Challenging the existing paradigms in safety consciousness and human chance management, we have observed huge adoption of our platform and amazing growth.”

Direct investor Highland Europe has beforehand backed protection businesses this sort of as Malwarebytes, Cobalt and ActiveFence.

Gajan Rajanathan, companion at Highland Europe, said: “SoSafe’s founders have created a trustworthy cybersecurity consciousness and screening platform, underpinned by behavioral analytics and human chance scoring that sustainably shields the most critical danger area in cybersecurity — human protection breaches. They have swiftly emerged as a person of the major software package scale-ups, going through extraordinary momentum in a limited period of time.”

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