Based in Manchester and London, human risk management platform CultureAI has raised $10 million in Series A funding led by Mercia Ventures and Smedvig Ventures.
- Founded in 2015 by James Moore, CultureAI human risk management platform enables security teams to quickly identify and address cybersecurity risks, coaches employees in real time, and automates fixes across various platforms, aiming to eliminate human error-related security breaches.
- In 2021, CultureAI received seed funding rounds of $4 million and $5 million in 2023. The platform is trusted by numerous firms, including Tide, Octopus Energy, GXO, Dojo, Marie Curie, Revolut, ClearBank, and NatWest.
Details of the current deal
- The investment was led by England-based VC Mercia Ventures, which funds startups across the UK with ticket sizes ranging from £1 million to £10 million, and Smedvig Ventures, a London-based venture capital firm that invests in B2B startups across Europe.
“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,” investor at Mercia Ventures, Adam Lovell, stated.
- Existing investors UK Passion Capital and German Senovo also participated in the round.
- The fresh capital raised will enable CultureAI to expand its team across all departments, enhance its market profile and presence in the US, and further develop its product to innovate the way organizations detect and manage cyber risks in an evolving landscape.
