Right-Hand Cybersecurity Announces $5M Series A to Reduce Employee Errors That Cause The Majority of Cybersecurity Breaches
Led by former PayPal executive Jack Selby and his firm AZ-VC, the round will enable Right-Hand to expand its global operations and Human Risk Management platform to reduce employee-caused security incidents.
PHOENIX, March 28, 2023 /PRNewswire/ -- Right-Hand Cybersecurity, a pioneer in Human Risk Management for cybersecurity, today announced its successful $5M million Series A led by former PayPal executive Jack Selby and his firm AZ-VC, the largest venture capital firm in Arizona.
With the successful close of its Series A round, Right-Hand will expand its operations across the U.S. and Asia-Pacific 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 aggregates employee security behaviors and alerts in real-time from its existing platform, and other market leading Endpoint Detection & Response (EDR), Email Security and Identity and Access Management (IAM) technologies, and assigns different behaviors a risk score that can be easily interpreted among key stakeholders to gain visibility into employee risk in plain business terms.
Right-Hand's platform then analyzes the collated employee data to generate real-time interactive and adaptive training that enables individuals to master cybersecurity behaviors that keep their organizations and themselves safer online.
Right-Hand plans to continue expanding its platform integrations across the most commonly adopted technologies in their customers' environments to help the data from each disparate product play a key role in improving employee behaviors and loweringtheir 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.
"What differentiates Right-Hand is that we go beyond just 'checking the box' for improving user behaviors to reduce cybersecurity risks," says Founder and CEO, Theo Nasser. "We provide an ongoing overview of employee risk profiles, and tailor learning materials specifically to individual behaviors to help reduce security alerts that inundate the Security Operation Center (SOC) – a radical departure from the 'one size fits all' security awareness approach that's become the unfortunate norm in this space. Right-Hand and our customers see this as the future for human layer security."
Global cybercrime damages are expected to reach $10.5 trillion annually by 2025; global ransomware costs will likely exceed $265 billion by 2031; and cybercrime is predicted to cost $30 billion globally by 2025. Since most breaches are caused by human error, behavior change and the human's role in cybersecurity have never been more important.
"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 Jack Selby, former PayPal executive and founder of AZ-VC, the largest venture capital firm in Arizona. "Right-Hand is breaking this dogma of 'check of the box' security training by creating a platform that changes behaviors 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 behaviors has quickly become favored by major enterprise customers, including Western Alliance Bank and Real Time Resolutions, a loan servicing company.
"We're pleased to be working with Right-Hand Cybersecurity, utilizing the company's innovative, adaptive and gamified approach to help train our employees in cybersecurity as part of our ongoing efforts to minimize fraud," said Victor Vinogradov, Chief Information Security Officer of Western Alliance Bank. "Right-Hand's focus on people and how human behavior relates to cybersecurity is a smart way to support risk management in this critical area."
The Chief Information Security Officer of Real Time Resolutions, Randy Potts, also offered similar praise of Right-Hand:
"We've worked with Right-Hand Cybersecurity for a couple of years, and they are giving security awareness training purpose again," said Potts. "With Right-Hand, security awareness is not just about checking the box anymore, it is about Human Risk Management being able to measure and pinpoint which employees are most breach prone that require just-in-time training to reduce risk. Our organization has seen amazing results with Right-Hand, and we're excited for the future of their company and the much-needed spark plug they are providing to the security awareness market."
Right-Hand Cybersecurity will be attending and hosting a booth at the popular RSA cybersecurity conference in San Francisco, April 24-27, 2023. For more information on Right-Hand, please visit https://right-hand.ai/.
About Right Hand Cybersecurity
Right-Hand Cybersecurity is a platform that aims to measure and reduce cybersecurity breaches caused by human errors by tracking and proactively shaping behaviors, thus leading to a reduction in security alerts to the SOC. It provides dynamic training tailored to individual users based on their behaviors and risk tendencies – identifying those most likely to catalyze a breach and driving behavior change accordingly. Right-Hand is based in Phoenix, AZ with extended operations in Singapore.
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SOURCE Right-Hand Cybersecurity