KnowBe4 Inc has announced the formation of KnowBe4 Ventures, its venture arm focused on the human layer of cybersecurity. Two existing leading cybersecurity venture funds – Elephant and Ten Eleven Ventures – are partnering with KnowBe4 on the initiative.
According to Verizon in the 2022 Data Breach Investigations Report (DBIR), 82% of breaches involved a human element, yet less than three percent of cybersecurity budgets are spent in this area. This spend mismatch is an opportunity for KnowBe4 Ventures to invest in innovative companies that strengthen and support the human layer of cybersecurity.
Stu Sjouwerman, CEO, KnowBe4, said, “Cyber attacks continue to plague organisations in every industry,” “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 arm will be investing off its balance sheets and will be focused on early-stage investments at the Seed through Series B stages.
KnowBe4 Ventures will invest in 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, and
- have a compelling financial strategy, unit economics and long-term growth potential.
