Milan/Rome-based cybersecurity awareness training platform Cyber Guru has raised €3.6 million in a Series A round led by P101 SGR to the tune of €2.1 million. Adara Ventures also participated in the round with a contribution of €1.5 million.
Founded and bootstrapped since 2017 by Gianni Baroni, Cyber Guru serves to educate employees around the dangers and pitfalls of information security. The company’s ethos relies heavily on that despite all the digital advancements in cybersecurity, the human factor is still a primary tool used by cybercriminals.
According to the IBM Cost of a Data Breach Report 2020, 24% of data breaches are caused by human error, costing $3.9 million on average to remediate and 280 days to resolve. Not cheap by any measurement.
As we’ve seen over the course of the pandemic cybercrime has risen dramatically, and according to the PwC Global Digital Trust Insights 2021 report, 55% of executives plan to ramp up their cybersecurity spending in 2021.
Cyber Guru is aiming to lead the charge in turning the tide. Companies that have employed the Guru’s services report a 400% or more improvement in phishing resilience after only ten months of use.
“The goal of our innovative educational solutions is to increase users’ awareness of their interactions with digital technologies, improving their resistance – and that of organizations – to cyberattacks,” comments Baroni. “The proven effectiveness of our solutions is tied to our ability to involve and motivate users to undergo an individual development journey from which their professional lives will also benefit.”