- OutThink combines machine learning, natural language processing and applied psychology to identify individuals’ attitudes and behaviors
- The company will use the financing to continue expanding its leadership and accelerate international distribution
- Clients such as Whirlpool, Danske Bank, Rothschild, NatWest and other FTSE 100 brands
Bucharest, October 20th, 2022: GapMinder, the venture capital fund that invests in technology companies created in Romania and Central Europe, invested in OutThink, a
cybersecurity SaaS platform that identifies, understands and manages human risk. The
platform raised $10m in a seed stage funding round to continue expanding its leadership and accelerating international distribution.
OutThink is a product created by Chief Information Security Officers (CISOs) for CISOs that uses machine learning, natural language processing and applied psychology and is able to identify individuals’ attitudes, intentions and sentiments within an organization.
GapMinder invested along to AlbionVC, TriplePoint Ventures, Forward Partners and Innovate UK. The founding round was led by AlbionVC.
This new financing takes the total amount raised by OutThink to $11.4 million. This seed round follows a year in which OutThink annual recurring revenue (ARR) quadrupled.
Headquartered in London, OutThink has a global client base, all of whom are served locally from offices located in Europe, the Middle East and Asia Pacific. Some of Outhink clients are Whirlpool, Danske Bank, Rothschild, NatWest and other FTSE 100 brands.
“The idea for OutThink was born out of frustration that existing solutions on the market were failing, yet it also came from a passionate belief that if we engaged people beyond traditional security awareness training into human risk management, we could make them the organization’s strongest defense mechanism. We are delighted to welcome AlbionVC, TriplePoint Ventures, and GapMinder to our team as we create a new category within the cybersecurity solutions market”, said Flavius Plesu, Founder and CEO of OutThink.
“Cyberattacks are one of the top biggest threats of this decade, according to World Economic Forum. At the same time, cybersecurity solutions have historically centered on solving the technical aspect, almost ignoring human behavior. OutThink is a product that completely changes the way that security solutions works. Instead of treating human behavior – the cause of 91% of data breaches worldwide – as the problem, OutThink treats it as the
solution. It’s a fundamentally different approach that has led OutThink to reinvent human risk management in cybersecurity. We are glad to support OutThink to continue its worldwide leadership and accelerate its growth”, says Dan Mihăescu, Founding Partner GapMinder.
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About OutThink:
OutThink brings the world’s first cybersecurity human risk management platform (SaaS). An innovative, disruptive solution, OutThink is the evolution of traditional security awareness training. Used by large, complex global organizations (incl. FTSE 100), the OutThink SaaS platform has been developed specifically to identify, understand and manage human risk. OutThink was built by a team of CISOs and researchers for security professionals who are looking to build more sustainable security and make people their strongest defense mechanism. Headquartered in the City of London, OutThink has a global client base all of whom are served locally from offices located in Europe, Middle East and Asia Pacific. www.outthink.io
About GapMinder
GapMinder is a EUR 50 million venture capital fund that invests in technology companies created in Romania and Central Europe, growing rapidly internationally and in the Seed or Series A phase. GapMinder partners have a direct approach as investors, helping companies grow through strategic consulting and direct involvement in the operational organization, corporate governance, and financial discipline. GapMinder’s portfolio includes companies such as FintechOS, TypingDNA, DruidAI, Cyscale, Deepstash, SmartDreamers, Soleadify, Machinations, Frisbo, Innoship.io, Cartloop. GapMinder is co-financed mostly by the 2014-2020 Competitiveness Operational Program.
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