Think Cyber Security Ltd Raises £3M for Secure Behavior Change
London, UK – 26.03.2024 Think Cyber Security Ltd has announced today that it has raised a £3 million late seed funding round to deliver measurable secure behaviour change. The multi-award winning, National Cyber Security Centre recognized firm offers an innovative and uniquely real-time Redflags® subscription software solution which gently guides and nudges staff to secure behaviors, with measurable impact. UK investor Fuel Ventures led the funding round. To date, ThinkCyber has raised a total of £3.6 million in funding.
Organizations have been spending millions on technical cyber security controls but they have tended to poorly address their exposure to attacks that start with the “human in the loop”, where a staggering 83% of cyber breaches start.
Technical controls for this can only do so much, and industry standards of eLearning and phishing simulations have ranged from ineffective to alienating staff. Cyber attacks and data breaches have consistently started with human action and a technical focused industry has tended to blame those users for falling for these attacks or acting insecurely. Phishing, and spear phishing, in particular, is a leading attack vector.
Many of these attacks use an understanding of behavioral psychology against us. Phishing attacks that use urgency, authority (from the CEO), social proof (recognized brands), fear, etc., are all designed to make us click without thinking, such that traditional eLearning approaches have little chance of helping – your brain simply “can’t stop and think”. Building on their experience combatting these threats as Global Heads of IT and Information Security respectively, at the Cyber Division of BAE Systems (Detica), Tim Ward and Dr. Mike Butler the co-founders launched Think Cyber Security Ltd with InnovateUK funded research grants to go back to the basics of behavioral and learning science with an emphasis on using these same psychological techniques “for good”.
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