Human error is a primary cause of cybersecurity breaches. Last year, 70 percent of IT, technology and telecommunications organizations reported malware spread between employees. In 2019, 52 percent of people reused the same password for multiple accounts, including work and personal logins.
“All of these behaviors are really impactful and really high risk for businesses,” Ashley Rose, Living Security CEO and co-founder, told Built In.
That’s where Living Security comes in. The Austin-based company helps prevent cybersecurity breaches with human risk management solutions, including management platforms and gamified training.
Last year, Living Security tripled its revenue, more than doubled its customer base and doubled the size of its team, Rose said. The company also pivoted its flagship product Cyber Escape Room, a game where employees work in teams to solve puzzles that teach them about cybersecurity best practices, from in-person to online.
“We had insane growth last year because organizations recognized that they needed a better, more impactful solution — one that actually drove behavior change across their employee base,” Rose said.
On Tuesday, Living Security announced it raised $14 million. The Series B funding will help the company grow its existing platform and launch Unify, a new human risk management platform.
“What we’re trying to do is really focus on proven lasting change in behavior for organizations,” Rose said. “Unify brings cybersecurity behavioral data that exists within other security platforms into Living Security’s platform to be able to deliver insight and essentially quantify human risk for senior leaders, for the CEO, for the CFO, for board members.”
This data is then used to deliver behavioral and data-driven training to employees. Unify will launch later this year.
Living Security also has plans to hire. The company currently has eight open positions with plans to hire about 20 people in the next quarter. Rose said that, with the development of Unify, the company will hire data engineers, integration engineers and sales associates. Some positions will be remote but several will be located in Austin. Rose said Living Solutions will relocate to a larger office in the Austin area in early Q3.
Founded in 2017, Living Security has raised $20.75 million to date, including a $5 million round last year. Living Security’s platform and trainings are used by more than 100 companies, such as CVS Health, MassMutual, JP Morgan, Target, Verizon, Mastercard and Biogen.
