CultureAI Closes $10 Million Series A Funding Round to Power Product Development and Market Expansion

About the Funding

CultureAI, a leading human risk management platform, has raised $10 million in capital in a Series A funding round led by Mercia Ventures and Smedvig Ventures.

Funding Plans

The funding will power CultureAI’s product development and market expansion plans, enabling the company to invest in the evolution of its product and expand its team across all departments.

Market Expansion

The company plans to increase its market profile and presence in the US, aiming to double headcount over the next 12 months.

About CultureAI

CultureAI is dedicated to building a world where human error no longer results in security breaches. To realise this vision, the company uses an innovative Human Risk Management Platform to identify workforce security risks, coach employees in the moment, and automate fixes.

Product Development

The company has seen rapid adoption of its human risk management offering, with significant growth in revenue and clients, including Revolut, RAC, Wickes, Delivery Hero, ClearBank, and Marie Curie. This latest investment will support the company’s continued mission to evolve the way organisations detect and manage cyber risks in a developing landscape.

Human Risk Management

Despite many companies investing heavily in awareness and training programmes, Forrester predicts that 90% of data breaches in 2024 will involve human error. CultureAI takes a data-driven approach to enable organisations to monitor, reduce, and fix human cyber risk with an innovative Human Risk Management Platform.

Quotes

“Imagine having a team of thousands who deeply understand your business and its employees. If this team could review, understand, and fix risks generated by each employee at source, breaches could be reduced by around 80%. While it’s impractical to build such a team, we can emulate its effectiveness using intelligent technology.” – James Moore, founder and CEO of CultureAI

“Addressing human risk is crucial for cyber security. Every day, 1 in 4 employees create cyber risks as they go about their jobs, from reusing passwords across shadow SaaS apps to oversharing intellectual property with AI tools. We’re all human and make mistakes. However, just doing more security awareness training won’t solve this—we can’t out-train human error. That’s why we’re focused on creating a platform which detects and automatically fixes the full spectrum of workforce cyber risks through interventions and nudges.” – James Moore, founder and CEO of CultureAI

Investor Perspectives

“CultureAI is at the forefront of developments in the emerging field of human risk management. With a deep understanding of the challenges that companies face, James and his team have developed a holistic solution that can secure businesses against a wide range of cyber threats. We believe the company is poised to achieve break-out growth. The funding will help it to further target a global audience and establish itself as a market leader.” – Adam Lovell, Investor at Mercia Ventures

“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.” – Joe Knowles, Partner at Smedvig Ventures

Benefits of CultureAI

Aaron Paddison, Associate Director – Cyber Security at Peninsula Group discusses the value CultureAI brings to their organisation: “We recognised blanket training was having very little real impact when it came to improving employee security behaviours and we wanted a more targeted solution. CultureAI has been a game-changer for us in terms of understanding what our people are doing. Rather than relying on training modules, which people immediately forget, we can intervene as and when a risk is occurring.”

Conclusion

CultureAI’s Series A funding round demonstrates the company’s commitment to innovative human risk management solutions. With a data-driven approach and a focus on identifying workforce security risks, coaching employees, and automating fixes, CultureAI is poised to help organisations reduce human cyber risk and achieve better security outcomes.

FAQs

• What is CultureAI’s main product?

  CultureAI’s main product is an innovative Human Risk Management Platform that enables organisations to identify workforce security risks, coach employees in the moment, and automate fixes.

• Who led the Series A funding round?

  Mercia Ventures and Smedvig Ventures jointly led the $10 million Series A funding round for CultureAI.

• How much funding did CultureAI receive in the Series A round?

  CultureAI received $10 million in capital in the Series A funding round.

• What is CultureAI’s mission?

  CultureAI’s mission is to build a world where human error no longer results in security breaches.