KnowBe4 has partnered with cybersecurity venture funds Elephant and Ten Eleven Ventures to beef cybersecurity measures.
According to Verizon’s 2022 Data Breach Investigations Report (DBIR), 82% of breaches involved a human element, yet less than 3% of cybersecurity budgets are spent in this area.
KnowBe4 Ventures sees this gap as an opportunity to invest in companies that strengthen and support the human layer of cybersecurity.
“Cyberattacks continue to plague organisations in every industry,” said KnowBe4 CEO Stu Sjouwerman. “The majority of these attacks target the human, so it is important to support founders taking on the challenge of improving security culture and accelerating the importance of securing the human layer.”
KnowBe4 Ventures will focus on early-stage investments. It will invest on the following companies that:
- Address the human layer of cybersecurity or have an integration case with KnowBe4’s products
- Are actively raising and have a lead investor identified
- Have a product in the market and initial customer traction
- Have a compelling financial strategy, unit economics, and long-term growth potential.