SafeBreach, the forerunner in breach and attack simulation (“BAS”), has announced a $53.5 million Series D investment round headed by Sonae IM and Israel Growth Partners (IGP), with support from Sands Capital and Leumi Partners. The current round also comprises a strategic investment from ServiceNow, the premier digital workflow firm that helps employees work better, as well as participation from previous investors such as Sequoia Capital, Deutsche Telekom Capital Partners, DNX Ventures, and others. Carlos Alberto Silva, Managing Partner at Sonae IM, and Assaf Harel, General Partner at IGP, will be joining the SafeBreach board of directors, while Scott Frederick, Managing Director at Sands Capital, will be appointed as a board observer.
This additional financing — the largest investment in a breach and attack simulation provider to date – more than doubles SafeBreach’s previous investment, increasing the company’s total funding to more than $106 million. SafeBreach is used by large worldwide businesses in financial services, healthcare, manufacturing, telecommunications, retail, and other industries as part of their core security strategy to validate controls and enhance security posture. The fresh funding will help the firm extend its market reach into new areas and adapt its solutions in response to customer requests.
“SafeBreach is the most comprehensive breach and attack simulation platform on the market – not only does it have the largest playbook containing over 21,000 breach methods; the platform also has flexible prioritization capabilities, extensive integrations, and extensible remediation options – while being simple to deploy,” said Carlos Alberto Silva, managing partner, Sonae IM. “We’ve never had such strong, positive customer feedback from high caliber clients and look forward to helping the company accelerate market expansion.”
“At IGP, we look to invest in category leaders, and SafeBreach is the ideal example of the type of organization and technology we support,” said Assaf Harel, general partner, IGP. “The breach and attack simulation market is one that has seen significant growth over the past year, and it’s no surprise that SafeBreach leads in the enterprise space, which is evident based on their client roster. We look forward to supporting the SafeBreach team as they continue driving momentum into 2022 and beyond.”
“As we enter a new phase of growth, this investment will significantly expand our go-to-market capabilities while simultaneously increasing availability of our widely used continuous security validation platform in large and global scale enterprises,” said Guy Bejerano, co-founder, and CEO of SafeBreach. “In our evolving threat landscape, many organizations have responded to threats in their environment by buying more security products and hoping that will make them more secure. But hope is not a viable strategy – a holistic view of risk is needed.”
“Our customers are focused on improving cyber resilience by proactively reducing their attack surface and speeding reactive response,” said Lou Fiorello, vice president and general manager, Security Products, ServiceNow. “SafeBreach helps companies shrink their attack surface through simulation and controls. This investment reflects ServiceNow’s commitment to helping customers secure their digital transformations.”
Gartner predicts that firms that utilize risk-based vulnerability scanning would see 80 % fewer breaches. The SafeBreach platform displays data in customizable dashboards, allowing stakeholders to concentrate on the most significant threats to the enterprise. SafeBreach presently protects approximately 100 corporate clients, all of which are Fortune 1000 corporations, including the top five largest healthcare, financial, and pharmaceutical firms at the forefront of COVID-19 vaccine development and remediation.
“Our philosophy is to invest in companies that stand out from the crowd and are well-positioned for the problems of tomorrow,” said Scott Frederick, Managing Director, Sands Capital. “With its unique approach and mission to empower CISOs to invest wisely in security, SafeBreach is a true market differentiator and one whose goals align with our own.”
“We use SafeBreach inside PayPal to gain a continuous, measurable, and complete view of our security posture,” said Sean Gray, Senior Director, Information Security Strategy and Threat Management, PayPal. “The platform is not only invaluable for our acquisitions, but it also helps to keep us protected as part of our cybersecurity program.”