Corporate security company Tessian Ltd. today revealed that it has raised $ 65 million in new funds to accelerate the platform’s development and hire more people.
Series C was led by March Capital and included Accel, Balderton Capital, Latitude, Sequoia Capital and Schroder Adveq. The round was raised to a value of $ 500 million.
Founded in 2013, Tessian is pioneering a new approach to cybersecurity with “Human Layer Security”, an approach that considers data breaches to be primarily caused by some form of human error. Powered by machine learning, Tessian’s platform provides visibility into human security risks, automatically preventing security threats while continually motivating employees to adopt secure messaging behavior through instant security training .
The company’s platform uses behavioral intelligence models tailored to each employee by analyzing communication patterns and individual behaviors online. Tessian uses machine learning models to automatically detect security threats and prevent them from turning into breaches by alerting the employee to the risk. Over time, these alerts would help employees improve their safety behaviors.
Tessian’s service secures people on email and automatically prevents threats such as phishing, business email compromise, data exfiltration, and accidental data loss. The company says companies are seeing an 84% reduction in data exfiltration on average, and click-through rates for phishing scams are falling to less than 1%.
With the COVID-19 pandemic and the shift to remote working, Tessian has experienced strong growth, tripling its Fortune 500 customer database in 2020. The company now has approximately 350 global customers in the legal, service industries. finance, health and technology. Notable clients include Arm Ltd., Affirm Inc., Investec Ltd. and RealPage Inc.
“Just as we have firewalls to secure networks and endpoint detection and response platforms to secure devices, businesses now need advanced security technology to keep their employees secure.” , Tim Sadler, co-founder and CEO of Tessian, said in a statement. “People make 35,000 decisions every day; it only takes one bad decision or human error for an employee to cause a catastrophic security breach. “
Tessian was last in the news in April when he announced a new human layer risk center. The hub provides full visibility into the risk level of each employee and will allow team leaders within an organization to take a more personalized approach to employee safety.
Including the new funding, Tessian has raised $ 123.7 million to date, according to Crunchbase.
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