Experiencing rapid customer growth, the industry’s leading provider of breach-and-attack simulation will use the funding to accelerate the development of new product capabilities and services, expand strategic partnerships and grow its channel relationships with major MSSPs.
Sunnyvale, CA – April 15, 2020 — SafeBreach, provider of the leading breach-and-attack simulation (BAS) platform to validate security controls, visualize security risk and prioritize remediations, today announced that it has secured $19 million in Series-C funding. The round brings the total amount of capital raised by SafeBreach to over $50M. OCV Partners led the round with participation by previous investors Sequoia Capital, Deutsche Telekom Capital Partners, DNX Ventures, Hewlett Packard Pathfinder, and PayPal. SafeBreach will use the additional funding to accelerate product development to address the growing needs of customers and to accelerate sales channel and partnership growth on a global scale. In addition, the company will add a suite of new services for its rapidly growing base of customers who have embedded SafeBreach BAS into their daily operations as a means to continuously validate security posture and optimize configurations of existing security tools.
“In a continually changing threat environment, most enterprise security groups have responded by buying more security products and hoping that will make them more secure. But hope is not a viable strategy,” says Guy Bejerano, co-founder and CEO of SafeBreach. “Instead, CISOs and security teams need to improve their security stance on an ongoing basis and avoid the misconfigurations and security lapses of their existing security controls that make possible the vast majority of serious security incidents today.”
The funding round comes after rapid customer growth and usage during the past two years. In 2018 and 2019, dozens of multi-billion dollar entities in financial services, healthcare, manufacturing, telecommunications, retail and other industries adopted breach and attack simulation as part of their core strategy to validate controls, improve security posture and reduce business risk. They committed to SafeBreach as their core platform for attack simulation, security risk visualization and prioritization. During the past 12 months, the volume of monthly simulations running on SafeBreach BAS platforms worldwide has grown at a triple digit rate, eclipsing 1.5 billion monthly simulations at its peak. During this period, SafeBreach has aggressively expanded its product offerings and integrations into high-demand areas including cloud-native security, risk-based vulnerability management and, most recently, security validation for remote workforces.
“The explosive growth of cyberattacks, combined with the increasing complexity of managing IT 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,” says Hemi Zucker, Managing Principal at OCV Partners. “We are impressed with the rapid growth and quality of SafeBreach customers, and believe that SafeBreach is uniquely positioned to address those challenges, and to change the game for IT security.”
Key Additions to Board of Directors and Advisory Board
Hemi Zucker, Managing Principal at OCV Partners, will be joining the SafeBreach board of directors. Zucker has deep experience growing technology companies. He formerly served as the CEO of cloud services and publishing company J2 Global (NASDAQ:JCOM), where he grew the company from founding to a $4.5 billion market capitalization.
“Hemi Zucker will be a great asset to SafeBreach’s Board of Directors and ultimately to our customers,” says Guy Berejano. “He has an outstanding track record of how to drive and sustain rapid growth to achieve dominant market position.”
In addition, SafeBreach has added key industry experts and practitioners to its Advisory Board including: Christine Herman, VP and Head of Operational Assurance at Morgan Stanley, Yaron Levi, CISO of Blue Cross Blue Shield Kansas City, Dr. Sunil Lingayat, Chief of Cybersecurity Strategy and Technology atT-Mobile, and Peter Liebert, former CISO of the State of California.
Expanding Strategic Partnerships and Growing Channel Relationships
In recognition of the continued product innovation and growing customer traction achieved by SafeBreach, major cybersecurity companies, including Microsoft and IBM, top cyber consulting firms like Deloitte and leading integration partners, including Blackberry Cylance and SentinelOne, have partnered with the company to deliver automated continuous attack simulations to their customer base of Fortune 500 organizations.
Expanding these partnerships and channels will dramatically broaden the market reach of SafeBreach. These initiatives will also increase awareness of the key role that automated BAS plays in forward-thinking cybersecurity strategies that address the dynamic nature of attacks as well as the growing risk of self-inflicted harm due to improper and poorly validated security control configurations.
SafeBreach is the world’s most widely used breach-and-attack-simulation platform. The company’s patented platform provides a near real-time “hacker’s view” of an enterprise’s security posture to proactively predict attacks, validate security controls and improve security operations center (SOC) analyst response capabilities. SafeBreach automatically and safely executes thousands of breach methods validating network, endpoint, cloud and email security controls by leveraging its extensive and growing Hacker’s Playbook™ of research and real-world investigative data. Headquartered in Sunnyvale, California, the company is funded by Sequoia Capital, Deutsche Telekom Capital Partners, OCV Partners, DNX Ventures, Hewlett Packard Pathfinder, PayPal and investor Shlomo Kramer. For more information, visit www.safebreach.com or follow us on Twitter @SafeBreach.
About OCV Management LLC
OCV Management, LLC is a Los Angeles based investment firm co-founded by Richard Ressler and co-managed with Hemi Zucker, Managing Principal. The firm leverages an investment strategy deployed successfully since 1993 and a team of seasoned professionals who have worked together for an average of over 22 years. OCV invests in companies with differentiated technologies and compelling target markets, with the overriding objective of creating sustainable long-term value. As partners, OCV provides operational and financial expertise through its experienced principals, who have proven success as entrepreneurs, business leaders and investors across a variety of sectors including technology, healthcare, industrials, real estate and finance. OCV invests across all stages of a company’s growth cycle, and finds creative investment solutions to fit a company’s needs. For more information, visit www.ocvpartners.com.