KnowBe4 Obtains $30 Million Financing in Series B Supporting Series

KnowBe4, Anti-phishing solution supplier has obtained $30 million of development funds in its newest series B supporting round, taking its total funding up to $44 million. The newest series of financing was headed by a new financier – Goldman Sachs Development Equity. The extra money will mainly be utilized to encourage development in global marketplaces, with some coffers utilized for product expansion.

The new financing comes after remarkable 3rd quarter sales, which were 2.63 times more than the preceding quarter. Q3, 2017 was the 18th successive quarter of constant development for the Clearwater, Florida-centered company. The sustained development is because of the high requirement for anti-phishing resolutions that increase the safety consciousness of workers.

Now phishing is the number one danger to companies; an attack technique that lets cybercriminals to circumvent companies’ technical safety fortifications by aiming workers. By teaching workers to be more safety conscious and training them to identify phishing dangers, companies can make what KnowBe4 labels “a humanoid firewall.”

KnowBe4 has created an anti-phishing program that contains a track of learning sources for teaching, together with a phishing replication platform that lets companies check their workers to evaluate the efficiency of their teaching attempts and observe which workers need more teaching.

The phishing electronic mails for the replications have been created by Kevin Mitnick – a famous cyberpunk who is now utilizing his phishing talents to assist companies to defend against cyber dangers.

Phishing simulations and anti-phishing teaching are now an indispensable part of a company’s cybersecurity program. Although it used to be adequate to carry out a yearly cybersecurity refresher course/ training program for workers, the continuously changing danger situation means companies now require to continuously train workers. As new dangers arise, workers must be trained how to know the indications of an attack.

The continuous advance of phishing as an attack path and high requirement for anti-phishing solution suppliers makes investing in the company a safe gamble. Goldman Sachs headed this backing round, with Elephant, a current financier, also taking part. “Our funding will help the company’s constant growth as they grow globally and create new products to help this fast-growing marketplace,” said Hans Sherman, Assistant President in Goldman Sachs’ Commercial Banking Department.

“The capital comes at a critical time for us since we are expanding internationally. Last week we declared our European growth policies and are looking ahead to the future global extension,” said KnowBe4 Creator and CEO, Stu Sjouwerman.