Cybersecurity Company SafeBreach Raises $19 Million
The security simulation platform’s CEO Guy Bejerano said the round was completed quickly due to market uncertainty and shifting security requirements as remote work takes root
Israel-based cybersecurity company SafeBreach Inc. announced Thursday that it has raised $19 million in a series C funding round led by Los Angeles-based OCV Partners. Hemi Zucker, managing principal at OCV, will be joining the company's board of directors on the heels of the move.To date, SafeBreach has raised approximately $53 million. Some of the company's existing investors, including Sequoia Capital, Deutsche Telekom Capital Partners, DNX Ventures, Hewlett Packard Pathfinder, and PayPal also participated in the round.
SafeBreach will use the funds to accelerate sales and product development, address the growing needs of customers, and to form new partnerships in order to grow on a global scale, the company said. In addition, it said it plans to expand its product gallery to provide its customers with as broad protection coverage as possible.
SafeBreach counts as clients dozens of companies and organizations in fields including finance, health, manufacturing, communications, and retail. In the past year, the number of simulations performed on the company's platform has reached roughly 1.5 billion a month, according to company statements.“The explosive growth in the number of cyberattacks, combined with the increasing complexity of managing information technology infrastructure creates a pressing need for continuous attack simulation. In addition, overstretched security teams need the ability to visualize their entire attack surface, receive guidance on remediation decisions, and ultimately reduce business risk,” Zucker said in a statement.