Cyber: SafeBreach Secures $53m in Series D Round

SafeBreach, the pioneer in breach and attack simulation (“BAS”), announced it has raised $53.5 million in Series D funding, led by Sonae IM and Israel Growth Partners (IGP), with additional participation from Sands Capital and Leumi Partners. The round also includes strategic investment from ServiceNow, as well as participation from existing investors. Carlos Alberto Silva, Managing Partner at Sonae IM, and Assaf Harel, General Partner at IGP, will be joining the SafeBreach board, and Scott Frederick, Managing Director at Sands Capital will be added as a board observer.

This operation represents the largest investment to date in a breach and attack simulation vendor, and more than doubles the investment in SafeBreach, bringing the company’s total funding to over $106 million. The new capital will fuel the company’s plans to expand its market footprint to new geographies and evolve its offerings.

“SafeBreach is the most comprehensive breach and attack simulation platform on the market – not only does it have the largest playbook containing over 21,000 breach methods; the platform also has flexible prioritization capabilities, extensive integrations and extensible remediation options – while being simple to deploy,” said Carlos Alberto Silva, managing partner, Sonae IM. “We’ve never had such strong, positive customer feedback from high caliber clients and look forward to helping the company accelerate market expansion.”

“As we enter a new phase of growth, this investment will significantly expand our go-to-market capabilities while simultaneously increasing availability of our widely used continuous security validation platform in large and global scale enterprises,” said Guy Bejerano, co-founder and CEO of SafeBreach. “In our evolving threat landscape, many organizations have responded to threats in their environment by buying more security products and hoping that will make them more secure. But hope is not a viable strategy – a holistic view of risk is needed.”

“Our customers are focused on improving cyber resilience by proactively reducing their attack surface and speeding reactive response,” said Lou Fiorello, vice president and general manager, Security Products, ServiceNow. “SafeBreach helps companies shrink their attack surface through simulation and controls. This investment reflects ServiceNow’s commitment to helping customers secure their digital transformations.”

SafeBreach currently protects nearly 100 enterprise customers, all within the Fortune 1000 and including the top five largest financial, healthcare and pharmaceutical companies who are at the forefront of developing COVID-19 vaccines and remediation.

“Our philosophy is to invest in companies that stand out from the crowd and are well-positioned for the problems of tomorrow,” said Scott Frederick, Managing Director, Sands Capital. “With its unique approach and mission to empower CISOs to invest wisely in security, SafeBreach is a true market differentiator and one whose goals align with our own.”

About alastair walker 7389 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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