Hoxhunt raises USD 40 million to solve the human side of cybersecurity

Tuesday 31 May 2022 11:36 CET | News

Finland-based cybersecurity training platform Hoxhunt has secured USD 40 million to aid development its technology and increase growth in new markets.

Hoxhunt’s gamified platform rewards employees for reporting simulated and real email threats, using machine learning to create millions of individualised phishing simulations. 

Company officials stated that email is one of the biggest threats to enterprise security, that’s why human nature is one of the most important cybersecurity challenges to solve instead of building better mousetraps at the technical perimeter. Hoxhunt’s platform enables measurable behaviour change and cultural transformation. Their approach combines personalised and hyper-realistic training, adapted to each individual's skill, role, location, and language.

Cybersecurity spending is projected to grow from USD 262.4 billion in 2022 to USD 458.9 billion in 2025, with tightening regulatory and insurance pressure driving higher expenditure on awareness. Cybercrime costs are projected to swell to USD 10.5 trillion annually by 2025, as per the press release.

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Keywords: cybersecurity, fraud prevention, fraud detection, expansion, ransomware
Categories: Fraud & Financial Crime
Companies: Hoxhunt
Countries: World
This article is part of category

Fraud & Financial Crime


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