US-based cybersecurity technology developer SafeBreach raised $19m yesterday in a series C round backed by digital payment processor Paypal, telecommunications firm Deutsche Telekom and enterprise technology producer Hewlett Packard Enterprise (HPE).
Venture capital fund OCV Partners led the round, which included DNX Ventures and Sequoia Capital, while Deutsche Telekom and HPE invested through Deutsche Telekom Capital Partners and Hewlett Packard Pathfinder respectively.
SafeBreach provides enterprise cybersecurity software that simulates known cyberattack methods to test whether a client’s IT infrastructure is secure, an approach known as breach-and-attack simulation.
The funding will go to product development, sales and partnerships. Hemi Zucker, managing principal at OCV Partners, is joining the company’s board of directors in connection with the round, which took its total funding to $53m since it was founded in 2014.
Sequoia Capital and Shlomo Kramer supplied $4m of seed funding for SafeBreach in 2015, returning for a $15m series A round alongside DTCP, HP Pathfinder and Maverick Ventures the following year.
The company added $15m in a mid-2018 series B round led by DNX Ventures, then known as Draper Nexus, and backed by Paypal, DTCP, HP Pathfinder and Sequoia Capital.