Right-Hand Cybersecurity, a pioneer in Human Risk Management for cybersecurity, has raised a USD5 million Series A led by former PayPal executive Jack Selby and his firm AZ-VC, the largest venture capital firm in Arizona, United States of America (U.S.).
With the successful close of its Series A round, Right-Hand will expand its operations across Asia and the U.S. while investing heavily in its Human Risk Management platform that efficiently integrates with other commonly adopted and relied upon security solutions.
Right-Hand takes a human-centered approach to cybersecurity that improves employee behaviors in real-time that are otherwise prone to cascade potentially devastating cybersecurity breaches.
Right-Hand’s Human Risk Management platform consolidates employee security behaviours and alerts in real-time from the platform, and other security technologies like Endpoint Detection & Response (EDR), Email Security and Identity and Access Management (IAM) technologies. It assigns a risk score to different behaviours that stakeholders can interpret easily, providing visibility into employee risk in plain business terms.
Right-Hand’s platform then analyses the collated employee data to generate real-time interactive and adaptive training that enables individuals to master cybersecurity behaviors that keep their organisations and themselves safer online.
“What differentiates Right-Hand is that we go beyond just ‘checking the box’ for improving user behaviours to reduce cybersecurity risks,” says Founder and CEO, Theo Nasser. “We tailor learning materials to individual behaviours and monitor employee risk profiles, reducing security alerts for the Security Operation Center (SOC) – a radical departure from the ‘one size fits all’ security model that is commonly used. Right-Hand and our customers see this as the future for human layer security.”
A report by IBM Security and Ponemon Institute estimates that a company breach in Singapore costs SGD 3.65 million (USD 2.7 million), while in Australia, cybercrimes cost businesses and individuals over AUD 1.4 billion (USD 1.0 billion) in 2020, according to the Australian Cyber Security Centre (ACSC). Since most breaches are caused by human error, behaviour change and the human’s role in cybersecurity have never been more important.
Right-Hand aims to expand its platform integrations with commonly adopted technologies to improve employee behaviors and lower their risk tendencies. And by keeping the training experience crisp, gamified and to the point, it’s a win-win for security teams and employees alike.
“As an investor and entrepreneur, I’ve seen far too many companies try to tackle cybersecurity challenges solely from the perspective of perimeter defenses that overlook the human element – the opposite of Right-Hand’s approach,” said Selby. “Right-Hand is breaking this dogma of ‘check of the box’ security training by creating a platform that changes behaviours and significantly reduces security risks in real-time. I’m proud to support such a purposeful team and company in Right-Hand.”
Right-Hand’s fresh approach to tracking and changing behaviours has quickly become favoured by major enterprise customers, including Western Alliance Bank and Sleek, a Singaporean-based technology startup that offers digital accounting and compliance services for businesses.
“We’re pleased to be working with Right-Hand Cybersecurity, utilising the company’s innovative, adaptive and gamified approach to help train our employees in cybersecurity as part of our ongoing efforts to minimise fraud,” said Victor Vinogradov, Chief Information Security Officer of Western Alliance Bank, one of the largest banks in the U.S. “Right-Hand’s focus on people and how human behaviour relates to cybersecurity is a smart way to support risk management in this critical area.”
Michael Hart, the Chief Technology Officer of Sleek, also commended Right-Hand, offering similar approval and endorsement of their Human Risk Management platform.
“Sleek has been a Right-Hand customer for several years. Their platform has enabled our organisation to achieve compliance requirements, and also strengthen our cyberculture and employee security behaviours,” said Hart. “With Right-Hand's Human Risk Management platform, we've been able to automate security training for new hire onboarding and deliver relevant content based on our user and business needs. We're excited for Right-Hand's continued innovation and security centric approach to user training."
For more information on Right-Hand, please visit https://right-hand.ai/.