Cybersecurity training platform, Hoxhunt announced a $40 million Series B funding round, led by New York-based Level Equity Management, along with participation by existing investor Icebreaker.vc. The new funding will be used for the development of Hoxhunt’s technology and to accelerate growth in new markets, particularly North America.
Hoxhunt’s cybersecurity training is a gamified platform that rewards employees for reporting simulated and real email threats. It uses machine learning to create individualized phishing simulations. With its customer success team, it reduces the load for security teams.
The Helsinki-based company is a People-First Cybersecurity Platform and adapts to each employee’s skill level. Hoxhunt, founded in Helsinki in 2016, provides real-time visibility into threats for security teams, allowing them to react fast and limit the spread. Mika Alto, CEO of Hoxhunt said,
« Email is the biggest threat to enterprise security; that’s why human nature is the most important cybersecurity challenge to solve, instead of building incrementally better mousetraps at the technical perimeter. Our first-to-market platform enables measurable behavior change and cultural transformation. Our fundamentally different approach combines personalized and hyper-realistic training, adapted to each individual’s skill, role, location, and language. »