GapMinder invested alongside AlbionVC, TriplePoint Ventures, Forward Partners and Innovate UK. The founding round was led by AlbionVC.
“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 work. 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”, stated Dan Mihaescu, Founding Partner GapMinder.
OutThink raised $10 million in a seed funding round to continue expanding its leadership and accelerating international distribution.
“This new financing takes the total amount raised by OutThink to $11.4 million. This seed funding round comes after a year in which OutThink’s annual recurring revenue (ARR) quadrupled,” company representatives also said.
Headquartered in London, OutThink currently has a global client base 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.