Creating a new category
Market Opportunity
Ten Eleven was aware that the vast majority of cybersecurity incidents begin with human error – such as an employee accidently giving up a password after clicking on a phishing link. It was clear that better security awareness training was needed to help employees identify and protect themselves and their organizations against persistent threats.
KnowBe4 offered an effective solution that resulted in dramatic risk reduction. Additionally, the way that KnowBe4 continually tested employees gave companies a way to track improvement and determine ROI. KnowBe4 also developed a distinctive focus on high quality, highly watchable content and a crisp, channel-friendly GTM strategy.
Ten Eleven initially invested in the company in March 2019 as part of the company’s Series C.
Managing Team
Founded by IT and data security specialist Stu Sjouwerman, KnowBe4 helps organizations address the human element of security by raising awareness about ransomware, CEO fraud and other social engineering tactics through a new-school approach to awareness training on security. Kevin Mitnick, an internationally recognized cybersecurity specialist and KnowBe4’s Chief Hacking Officer, helped design the KnowBe4 training based on his well-documented social engineering tactics.
Ten Eleven Impact
Ten Eleven assists with ongoing financing processes, industry introductions, and helping build the team.
Key Milestones
2019
$50M
SERIES C
2019
$300M
SERIES C-1
April 22nd
$4B
Outcome
KnowBe4 went public on the NASDAQ on April 22, 2021. Tens of thousands of organizations rely on KnowBe4 to mobilize their end users as their last line of defense.