Cybersecurity training firm Hoxhunt today announced that it has raised $40 million in Series B investment, which brings the total raised by the company to over $43 million.
The funding round was led by Level Equity Management, with participation from previous investor Icebreaker.vc.
Founded in 2016, Hoxhunt helps organizations mitigate the risk of cyberattacks with a people-first cybersecurity platform that adapts to the skill level of each employee, training them on how to recognize and respond to attacks.
The Helsinki, Finland-based Hoxhunt relies on machine learning to simulate individualized phishing messages, and offers gamified platform rewards to employees who report email threats, thus upskilling the entire organization.
Hoxhunt will use the new funds to accelerate growth in new markets, with a focus on North America.
“Email is the biggest threat to enterprise security; that’s why human nature is the most important cybersecurity challenge to solve, instead of building incrementally better mousetraps at the technical perimeter,” Hoxhunt CEO Mika Aalto commented.