SoSafe has successfully raised $73 million over a single funding round, positioning itself as a notable player in the cybersecurity awareness sector. The company offers GDPR-compliant awareness programs, personalized learning experiences, and smart attack simulations.
Keep reading to explore the intricacies of SoSafe's fundraising journey and the investors backing this innovative platform.
What Is SoSafe?
Founded in 2018, SoSafe is a cybersecurity company headquartered in Cologne, Germany. The company focuses on making the digital world safer by providing GDPR-compliant awareness programs and personalized learning experiences.
SoSafe was established by Niklas Hellemann, Lukas Schaefer, and Felix Schürholz. The company has grown rapidly and now employs between 501-1000 people across various locations, including Germany, the United Kingdom, and Ireland.
With a mission to empower organizations to build a security culture, SoSafe offers smart attack simulations and comprehensive analytics to help identify vulnerabilities and measure ROI.
How Much Funding Has SoSafe Raised?
- Series B Round
- Amount Raised: $73,000,000
- Date: January 18, 2022
- Lead Investors: Highland Europe
- Motivation Behind the Round: To accelerate international expansion, scale product development, double the team to 500 employees, and advance its position as a leading security awareness platform.
SoSafe has raised a total of $73 million in funding. The current valuation is $73 million (~estimated).
Key Investors
- Highland Europe
- Details: Highland Europe is an expansion-stage specialist with a history of backing successful SaaS companies and security leaders. They led SoSafe's Series B funding round.
- Investment Focus Areas: SaaS companies, security leaders, technology.
- Notable Investments: Adjust, Contentsquare, Supermetrics.
- Acton Capital
- Details: Acton Capital is a growth-stage investor that has been involved with SoSafe since its earlier funding rounds. They focus on supporting companies through their scaling phases.
- Investment Focus Areas: Growth-stage companies, technology, digital economy.
- Notable Investments: Not specified.
- Global Founders Capital (GFC)
- Details: GFC is a global venture capital firm that invests in companies across various stages and sectors. They are an existing investor in SoSafe.
- Investment Focus Areas: Growth-stage companies, technology, consumer internet.
- Notable Investments: Not specified.
- Carsten Thoma
- Details: Carsten Thoma is the founder of SAP Hybris and a member of the Celonis Advisory Board. He is a new investor in SoSafe.
- Investment Focus Areas: SaaS, technology, enterprise software.
- Notable Investments: SAP Hybris, Celonis.
- La Famiglia
- Details: La Famiglia is a venture capital firm that invests in early-stage technology companies. They joined SoSafe's Series B funding round.
- Investment Focus Areas: Early-stage technology, digital transformation, industry 4.0.
- Notable Investments: Not specified.
What's Next for SoSafe?
SoSafe is poised to capitalize on the burgeoning cybersecurity market, with plans to expand internationally and double its workforce to 500 employees. The company’s focus on behavioral science-based, human-centric security solutions positions it well to become a global leader in cybersecurity awareness and human risk management.
Future fundraising opportunities appear promising, with potential for additional venture capital rounds or even an IPO as SoSafe scales globally. However, the company will need to navigate challenges such as maintaining solution quality during rapid growth and adapting to diverse international markets.
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