CultureAI announces $10m Series A funding round to stay at forefront of emerging field of human risk management

Human risk management platform, CultureAI, has closed a $10 million Series A funding round.

This was jointly led by Mercia Ventures and Smedvig Ventures, with existing investors Passion Capital and Senovo also continuing their support.

Following seed rounds of $4 million in 2021 and $5 million in 2023, CultureAI says it has seen rapid adoption of its human risk management offering, with significant growth in revenue and clients, including Revolut, RAC, Wickes, Delivery Hero, ClearBank, and Marie Curie.

This latest investment will support its mission to evolve the way organisations detect and manage cyber risks in a developing landscape, which is fuelled by the widespread adoption of SaaS apps, collaboration tools, and generative AI.

It plans to significantly invest in the evolution of its product and expand its team across all departments, aiming to double headcount over the next 12 months. Additionally, it is looking to increase its market profile and presence in the US.

James Moore, Founder and CEO at CultureAI says: “Imagine having a team of thousands who deeply understand your business and its employees.”

“If this team could review, understand, and fix risks generated by each employee at source, breaches could be reduced by around 80%. While it’s impractical to build such a team, we can emulate its effectiveness using intelligent technology.”

"Addressing human risk is crucial for cyber security. Every day, one in four employees create cyber risks as they go about their jobs, from reusing passwords across shadow SaaS apps to oversharing intellectual property with AI tools.”

“We're all human and make mistakes. However just doing more security awareness training won't solve this - we can't out-train human error. That’s why we’re focused on creating a platform which detects and automatically fixes the full spectrum of workforce cyber risks through interventions and nudges."

Adam Lovell, Investor at Mercia Ventures, comments: “CultureAI is at the forefront of developments in the emerging field of human risk management.”

“With a deep understanding of the challenges that companies face, James and his team have developed a holistic solution that can secure businesses against a wide range of cyber threats. We believe the company is poised to achieve break-out growth.”

“The funding will help it to further target a global audience and establish itself as a market leader.”

Joe Knowles, Partner at Smedvig Ventures, adds: “It is widely accepted that human error is the most prevalent vector for cyber-attacks and is poorly protected against by ineffective training programmes.”

“Advanced analytics applied to real-time behavioural data presents an original approach for CISOs to control human cyber risk. CultureAI is pioneering this with its market leading software, offering immediate visibility and mitigation of vulnerabilities.”

“James has an incredible reputation as a thought leader in the space and we are excited to partner with him and his team alongside Mercia Ventures.”

Aaron Paddison, Associate Director - Cyber Security at Peninsula Group, says: “We recognised blanket training was having very little real impact when it came to improving employee security behaviours and we wanted a more targeted solution.”

“CultureAI has been a game-changer for us in terms of understanding what our people are doing. Rather than relying on training modules, which people immediately forget, we can intervene as and when a risk is occurring.”