SafeBreach Lands $15M In Series A Funding, Plans Product And Sales Expansion

After launching from stealth earlier this year, security startup SafeBreach is continuing its market momentum with the announcement Tuesday of $15 million in Series A funding.

The funding round included investments from Deutsche Telekom Capital Partners, Hewlett Packard Pathfinder, Maverick Ventures, Sequoia Capital and security industry investor Shlomo Kramer.

’This is a great milestone for us as a company,’ CEO Guy Bejerano said in an interview with CRN. He said SafeBreach worked to choose investors that had ’deep synergies’ with the company and that can ’bring a lot of value’ to the startup.

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SafeBreach offers a platform to quantify an organization’s security risk and launch simulated attacks to challenge security controls and pinpoint weak spots in the environment. Similar in principle to penetration testing, the Menlo Park, Calif.-based startup differentiates itself by providing continuous, rather than static, visibility into weaknesses, providing actionable insight and visibility across the cloud, endpoint and network.

’So many companies chase the same problems but very few actually grasp the issues that security leaders are struggling with,’ Guy Horowitz, investment partner of Deutsche Telekom Capital Partners, said in a statement. ’SafeBreach is coming at security from a strategic viewpoint by providing practical and continuous security validation of enterprise security risks through a ’hacker’s point of view.’ This allows organizations to quantify cyberthreats in advance and mitigate them effectively. SafeBreach is building a tool which every security team should add to their arsenal.’

Since launching from stealth in January and announcing general product availability, Bejerano said SafeBreach has seen ’amazing market traction,’ picking up more than a dozen customers and being named a finalist in the 2016 RSA Innovation Sandbox competition in San Francisco. The company also unveiled threat intelligence integration with companies including iSight Partners, which was acquired by FireEye in January.

Bejerano said SafeBreach has been building out its market presence and sales teams, including hiring former FireEye channel executive Simon Naldoza as vice president of strategic alliances and business development to lead technology and reseller partnerships. Bejerano said the startup has already signed a few partners in the U.S. and Europe.

Ryan Tabloff, managing partner at Avantgarde Partners, said the company has partnered with SafeBreach since its early days, fitting it into its strategy of helping customers operationalize their security technologies.

’SafeBreach fits really well into that approach of being proactive and helping operationalize our other technology. SafeBreach gives us that visibility into more than data exfiltration but also, as we make changes to our environment, shows us if it is working and are we opening up any other areas of risk,’ Tabloff said.

The new round of funding will be put toward continued investment in the company’s product, including a new product line in the coming months, Bejerano said. SafeBreach also will invest in marketing to spread awareness of the need for the company’s offering and to scale up both direct and indirect sales.

Avantgarde Partners' Tabloff said he hopes SafeBreach uses the funding to continue investing in the technology and building its road map to meet evolving client needs.

’I think it will allow them to be more responsive to what the market is asking for with the solution, invest in more marketing and sales, and more visibility in the market,’ Tabloff said. ’I think not only making the solution better, but also getting the word out is most likely where the benefits of the dollars will help us as a partner.’