Elevate Security, a security behavior platform provider, raises $8 million in Series A funding round led by Defy Partners and backed by Costanoa Ventures. The startup, with this funding, aims to expand its footprint through key hires and general availability of the Elevate Platform.
“We have a solution that motivates, measures and rewards employees to change their security habits, while at the same time giving security teams unprecedented visibility into the security habits and actions of their employees,” Co-founder Masha Sedova told talking about the Security Behavior Platform they built to warrant this investment.
About 93% of all breaches occurred in 2018 were because of the uncomfortably numb, concerned but un-empowered employees – revealed a Verizon Data Breach Investigations Report. Elevate challenges the hence unfruitful traditional security awareness programs with a different approach. Elevate intends to motivate, enable, and reward employees for making good decisions pertaining to security by leveraging the latest advances in behavioral and data science – all while letting CISOs and awareness practitioners monitor employee behavior and risks at the same time.
“The platform pulls in data sets that allow employees or security teams to see where the strengths and weaknesses of their organization lie, and then apply a suite of solutions that are rooted in behavioral science that helps them change behavior,” Sedova explained. Hacker’s Mind was the first product built using the Elevator platform. The tool helped employees understand how Hackers think and operate.
Launched in 2017, customers of the San Francisco-based Elevate Security include AutoDesk, Exxon, and Illumio.