HacWare a cybersecurity awareness company has received $2.3M in seed funding to help companies understand how to avoid the evolving dangers of improperly managing their digital identities and provide lean security teams with an easy way to combat phishing attacks.
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The timing of this announcement on April 12th, Identity Management Day, is significant because phishing attempts are the most common form of identity theft. According to the Identity Theft Research Center (ITRC), ransomware and phishing assaults affected the data of 294 million people in 2021. HacWare works effortlessly with Google Workspace and Outlook 365, allowing security teams to begin smart staff training in minutes, saving time, money, and the steep learning curve of upgrading cybersecurity software entirely.
Clients of HacWare often go live in less than 15 minutes, which is a significant advantage over alternative security awareness systems, which can take weeks to get their employees started with cybersecurity training. Customers of HacWare have experienced a 60% decrease in malware outbreaks and a 40% decrease in labour expenditures.
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“Security forces had to do more with less during the pandemic. They were told they needed to speed up their digital innovation plans to keep their firm running throughout the quarantine. “They needed to protect their remote employees from phishing and ransomware threats,” said Tiffany Ricks, founder and CEO of HacWare. “As a former ethical hacker, I witnessed firsthand how employees can unwittingly make it difficult for security teams to prevent hackers from stealing resources due to insufficient training.” “Unfortunately, as cyberwar criminals hunt for ways to hinder organizations from operating and distributing false information, the Russia-Ukraine conflict will drive attacks to evolve quickly. I’m ecstatic that our artificial intelligence platform will enable worldwide workforces to battle cybercrime in unprecedented ways.”
HacWare announced that it will use the received $2.3M funding to expand its developer network and provide more tools for integrating its API with existing cybersecurity and HR solutions. HacWare is dedicated to delivering tailored, smart training that transforms susceptible behaviour into strengths. Elevate Capital is leading the investment, including 2.0 Ventures, Aura Innovation Fund, Chai Angels, and strategic scouts.
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Elevate Capital founder and managing partner Nitin Rai remarked, “We are impressed with HacWare’s creative and focused strategy to protecting workforce data from cybersecurity threats and phishing assaults.” “HacWare helps prevent malware outbreaks by turning ‘risky security behaviours into strengths’ using AI technology and a sophisticated security education system. Elevate Capital is ecstatic to lead this investment and collaborate with Tiffany and her team, demonstrating our commitment to providing early-stage finance to underserved minority and Black women entrepreneurs.” Nitin Rai will be joining the board of directors at HacWare.