This startup has attracted funding from big banks for cybersecurity training that targets every employee.
Cyber training programs should impart knowledge and skills to all workers, not just technical ones, because individual employees are generally the weakest links in organizational security.
Cybersecurity is all about people, according to Immersive Labs, which offers training software to help global organizations boost their workers’ judgment, skills, and speed in dealing with security risks and attacks.
The firm just scored fresh funding and has raised $189 million total, including from Insight Partners, Goldman Sachs Asset Management, and Citi Ventures. Immersive’s “cyber workforce resilience” program upskills employees, while also providing industry metrics and internal benchmarks to measure against (which is particularly vital as board members – and regulators – increasingly expect progress reports).
Financial services firms are prime targets for cybercriminals because of their double whammy of valuable assets and legacy infrastructure, according to Immersive Labs CEO James Hadley. “It’s important to note that the risk of cyberattacks is not just to the individual institution, but rather to the larger financial ecosystem,” he told Insights Distilled.
To that point, a group of financial services firms recently approached Immersive to test their collective cybersecurity capabilities. Immersive worked with them to run months-long crisis simulation exercises, Hadley said, which allowed them to identify areas to improve and then upskill their teams.
Immersive Labs counts HSBC, Citi, Moody’s, and Bain Capital among its customers.