SafeBreach announced that 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 latest round also includes strategic investment from ServiceNow, the leading digital workflow company that makes work, work better for people, 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 new capital – representing the largest investment to date in a breach and attack simulation vendor – more than doubles the investment in SafeBreach, bringing the company’s total funding to over $106 million.
Large global enterprises in financial services, healthcare, manufacturing, telecommunications, retail and other industries turn to SafeBreach for breach and attack simulation as part of their core security strategy to validate controls, improve security posture and mitigate business risk. The new capital will fuel the company’s plans to expand its market footprint to new geographies and evolve its offerings in response to client needs.
“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.”
“At IGP, we look to invest in category leaders, and SafeBreach is the ideal example of the type of organization and technology we support,” said Assaf Harel, general partner, IGP. “The breach and attack simulation market is one that has seen significant growth over the past year, and SafeBreach has the potential to lead the market. We look forward to supporting the SafeBreach team as they continue driving momentum into 2022 and beyond.”
“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.”
According to Gartner, organizations that use the risk-based vulnerability management method will experience 80 percent fewer breaches. The SafeBreach platform presents findings in customized dashboards, enabling stakeholders to focus on the biggest risks to the organization. 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.”
“We use SafeBreach inside PayPal to gain a continuous, measurable and complete view of our security posture,” said Sean Gray, Senior Director, Information Security Strategy and Threat Management, PayPal. “The platform is not only invaluable for our acquisitions, but it also helps to keep us protected as part of our cybersecurity program.”