London-based Tessian, a cybersecurity platform that is helping hundreds of enterprises around the world to radically reduce the chances of human security breaches, has raised €37 million in Series B funding. The round was led by Sequoia, with participation from Latitude and existing investors Balderton Capital and Accel.
Tessian’s technology uses machine learning to eliminate the huge security vulnerabilities surrounding enterprise email, including spear phishing and misdirected emails. The platform analyses email data in order to understand the context of human relationships and communication. By knowing what normal email activity looks like, it can automatically detect any anomalies that may imply a security threat. Emails that look like security threats are flagged with warning notifications to employees, which alert them to the specific reason why something looks unusual. Security admins can also be notified in real-time when threats are detected and with information about what action the employee took when issued with the warning.
“We’ve entered the third era of enterprise cybersecurity. In the early days, network security sufficed,” said Tim Sadler, CEO and co-founder of Tessian. “Then cloud apps and mobile devices proliferated, and we adopted endpoint protection. But in spite of these protections, data breaches are at an all-time high. The reason is humans. People are the most important decision makers in the enterprise and process extremely sensitive information on a daily basis, yet they’re more vulnerable than ever before. Tessian’s mission is to help organisations protect people processing data using technology that empowers, rather than restricts the way they work.”
“For years the security market has focused mostly on protecting critical machine driven points of vulnerability such as the network, the endpoint, the cloud or SaaS connection,” said Matt Miller, Partner at Sequoia. “To us this has always seemed somewhat flawed because the biggest asset and vulnerability to any enterprise is its people. We are enthusiastic to partner with Tessian because we believe in this team and its ability to leverage machine learning to help enterprises protect their people. Tessian’s human-centric approach is incredibly distinctive and is already resonating well with customers. We are excited to help them create this market focused on Human Layer Security.”
Tessian grew by more than 300% in 2018, and the company plans to use the funds to accelerate its global expansion, as well as to invest heavily in research and development to expand its product line in 2019.