The round was jointly led by Mercia Ventures and Smedvig Ventures to power product development and international growth.
"It is widely accepted that human error is the most prevalent vector for cyber-attacks and is poorly protected against by ineffective training programmes. Advanced analytics applied to real-time behavioural data presents an original approach for CISOs to control human cyber risk. CultureAI is pioneering this with its market-leading software, offering immediate visibility and mitigation of vulnerabilities. James has an incredible reputation as a thought leader in the space and we are excited to partner with him and his team alongside Mercia Ventures."
The London-based cloud security firm has raised £3.9m in a seed round led by Accel to expand its engineering team and product offering.
"Our mission at Tracebit is to accelerate the mass adoption of threat deception for enterprises everywhere, and to reduce the mean time for detecting an intruder from months to minutes. Honeypots are one of the biggest deterrents to cyber attacks, but have been underused for too long due to their cost and complexity. This funding will help us bring threat deception to enterprises that haven’t felt able to leverage it before."
"Having successfully scaled the business since its inception in 2016, it was a natural time to look ahead to the next phase of growth. With a wealth of experience in the technology market and a pedigree of supporting ambitious businesses on their scaleup journeys, BGF was a natural fit. We are also delighted to be working with Ben Marnham who has worked with a number of fast growth tech scaleups."
Praetura Ventures led the round with participation from Smedvig Ventures and Fuel Ventures.
"We are incredibly proud to work with Praetura, a fellow Manchester based organisation with extensive resources, networks and expertise to support us on our mission to give every performance marketer access to reliable, transparent IVT detection that drives proven commercial success. With invalid traffic never higher, and the paid media landscape never more complex, we are poised for incredible growth both at home and abroad, and are excited to have the Praetura team with us on the journey."
