Cybersecurity awareness firm SoSafe makes jump to plaid, raises $73 million

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SoSafe, a Cologne-based startup that provides a cybersecurity training platform to corporate clients, has raised $73 million in a Series B round in order to accelerate international growth.

According to the IBM Cost of a Data Breach Report 2020, 24% of data breaches are caused by human error, costing $3.9 million on average to remediate and 280 days to resolve. Figures that add up to a projection of $6 trillion in costs in 2021 alone. Not cheap by any measurement. As we’ve seen over the course of the pandemic cybercrime has risen dramatically, and according to the PwC Global Digital Trust Insights 2021 report, 55% of executives plan to ramp up their cybersecurity spending in 2021.

Founded in 2018, the German startup plays in the same field as Bristol’s Immersive Labs, Milan’s Cyber Guru, and to some extent Italy’s CyberXcelerato, and points to its unique user-centered approach to cyber security as a USP. According to the company, end-users delight in gamification elements that are embedded throughout the platform, while at the same time admins see a trouble-free installation and the ability to customise the offer to their hearts’ content.

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