Senovo is an early-stage venture capital firm based in Munich and Berlin that partners with exceptional founders building global B2B SaaS category-leaders from Europe.
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 Series B round was led by One Peak to support the expansion of the company's network assurance platform.
"Gartner has reported only 26% of network leaders maintain accurate network data, massively hindering the effectiveness of automation initiatives for 74% of enterprises."
— Humbert de Liedekerke, Co-founder and Managing Partner
The funding round was backed by Conviction VC, Passion Capital, Senovo, and prominent angel investors.
"Despite organisations investing heavily into content-based security awareness training, most security incidents are still caused by human mistakes. IT and security teams use our platform to surface behavioural data, spot these mistakes and empower employees to resolve them. Our clients are empowered to prevent any recurrence of these mistakes much more effectively than they would with traditional security awareness training."
The Manchester-based cyber security platform raised £3m from backers including Senovo and Passion Capital.
"We successfully gain access to organisations’ data and systems every time and it’s almost always as a result of human behaviour or error. As an example, multi-factor authentication (MFA) is often touted as a key cyber defence – yet we find that an average of 32% of employees accept MFA authentication requests sent by attackers, essentially opening the door for them. The traditional awareness training approach simply doesn’t improve behaviours like this – hacking people is still too easy."
