CybSafe receives investment from RFS
An innovative maker of cyber security awareness software, CybSafe, has received investment from RFS – the Swindon-based regulatory, resource and complaint handling consultancy – to support the business as it continues to develop revenues and refine the product offering.
Everyday hundreds of organisations fall victim to cyber-attacks. While most businesses focus their defences on technology and processes, fewer actively address the human element.
CybSafe provides ahead-of-the-curve software to help organisations take an intelligent approach to cyber and information security awareness by educating employees with an intuitive e-learning package. The CybSafe package learns individual knowledge levels, behaviour patterns and the ever-evolving techniques of cyber criminals, and applies this understanding to ensure CybSafe users are better protected online. It also enables businesses to better understand and visualise this aspect of cybersecurity risk within their supply chain.
RFS specialises in helping businesses under regulation within the financial services and utility sectors. With an in-depth regulatory knowledge, operational expertise and specialist associates; RFS delivers support in Outcome Testing, Remediation, Financial Crime, Root Cause Analysis and Conduct Risk – offering solutions to alleviate regulatory pressure for clients and their customers.
This minority stake investment in CybSafe complements RFS’ fast-growing financial crime arm and the services provided by CCAS, a RFS subsidiary offering consumer credit advisory services.
Michael Couzens, Managing Director of RFS, said: “We are very pleased to have made an equity investment in CybSafe.
“As organisations and regulators alike grapple with the constant threat of cyber-attacks, CybSafe provides a proprietary technological platform with a strong person-to-person focus.
“We are very much looking forward to working with the fantastic team at CybSafe to further solidify their unique position in the market, and to help our clients protect and educate their workforce.”
Oz Alashe MBE, CEO and Founder of CybSafe adds: “Businesses now realise that their own staff represent their greatest security vulnerability, but it’s a problem that is costly and difficult to address. CybSafe transforms cyber awareness training from a box-ticking exercise into an immersive, recurring experience that positively changes security-related behaviour and delivers an immediate return on income.
“We could not have secured the investment from RFS without the dedication and assistance we received from Shaw & Co. The investment will be used for talent acquisition and product development.”
Nathan Morgan, Director at Bristol-based corporate finance boutique, Shaw & Co, said: “We are delighted to have worked with Oz and the team at CybSafe in securing this investment and look forward to seeing the business grow over the next few years in this important and rapidly developing space.”
CybSafe received ongoing legal advice from the South West company commercial team at regional law firm Thrings. Led by partner Kate Westbrook, and supported by partners Mike Tomlin and Alex Pyatt, and associate solicitor Sarah Ellis, Thrings completed the investment on behalf of CybSafe.
Kate Westbrook said: “Having provided commercial legal advice for CybSafe since its inception, Thrings is really excited to have helped the business in the next stage of its growth.
“Thrings and Shaw & Co worked together extremely closely to complete this transaction which reflects and rewards the ceaseless effort CybSafe injects into its business.”
RFS was represented by Charlotte Forbes, Head of Legal and Governance.