OutThink wins €2M grant from European Innovation Council to tackle human risks in cyber security

OutThink wins €2M grant from European Innovation Council to tackle human risks in cyber security

Dec 21

Lavinia Manocha
Lavinia ManochaLavinia Manocha is OutThink’s Growth Marketing Manager, connecting customers and partners with innovative human risk management solutions. With over three years at OutThink, she excels at translating complex topics into engaging narratives. Lavinia frequently highlights industry trends and company milestones through her LinkedIn posts.
View Profile
Share
In this article

European funding will accelerate adoption of game-changing technology.

London, UK, 21 December 2021 – OutThink, the developer of the world’s first cybersecurity human risk management platform, is pleased to announce that it has been awarded a €2m grant from the European Innovation Council (EIC) to accelerate the worldwide adoption of its technology designed to help organizations protect themselves from escalating cyber security threats.

Funding from the EIC is highly sought after by Europe’s most innovative start-ups with awards going to ambitious management teams with promising technologies and business models. OutThink was the only cyber-security firm, and one of just five UK businesses, to receive an award in the recently announced funding round.

Applicants for the EIC Accelerator are subject to a rigorous and competitive process involving an ideas screening stage, and full applications are assessed by external experts and an interview with a jury of experienced investors and entrepreneurs. The EIC has a track record of picking winners. During the pilot phase up to 2020 start-ups and SMEs supported by the EIC have gone on to reach a combined valuation of around EUR 50 billion, including 91 “centaurs” (company valuation over €100m) and 2 “unicorns” (company valuation over EUR 1 billion).*

OutThink was selected for its potential to save organizations €2.8 bn per annum globally through improved security awareness. Current approaches to security awareness training have limited impact in tackling cybercrime, because they neglect the fact that every individual is different. OutThink invented the new category of cybersecurity human risk management and takes a fundamentally different approach using machine learning and natural language processing, applied psychology, software telemetry, and security system integrations (a key focus for the EIC funding) to identify individuals’ attitudes and behaviors to understand, measure and manage individual human risk.


Flavius Plesu, CEO and Founder, commented:

“This award is a powerful endorsement of our technology and team and comes at a time when there is excellent momentum in the business following nearly four times growth in recurring revenues over the last year. OutThink is disrupting a space characterized by ineffective ‘tick box’ security awareness training solutions and this funding will help us accelerate our innovation programme and go to market plans.”

About OutThink

OutThink, the developer of the world’s first cyber-security human risk management platform, protects organisations around the world from cyber-threats by mobilising their people as their first line of defence. The company’s modern SaaS platform applies machine-learning and natural language processing to identify and measure human risk and to affect behaviour change through highly engaging and targeted micro-learning experiences. The OutThink platform was purpose-built by a team of visionary information security experts, researchers and technologists. Headquartered in the City of London, and with software development in the European Union, the company serves a global client base directly and through a network of partners.

About the European Innovation Council

The European Innovation Council (EIC) was established under the EU Horizon Europe programme to support game changing innovations throughout the lifecycle from early stage research, to proof of concept, technology transfer, and the financing and scale up of start-ups and SMEs. The EIC Accelerator offers start-ups and SMEs grants combined with equity investments through the EIC Fund. Since its launch in March 2021, over 4,000 start-ups and SMEs have sent their ideas and just 99 companies out of 1098 who submitted for the second cut-off on 6 October will receive awards totalling €627 million to help them bring their solutions to market.

* European Innovation Council impact report 2021

Enjoyed this blog post? Share it with someone!Share

Learn more about our world-leading, AI-native cybersecurity human risk management platform.

Learn more about our world-leading, AI-native cybersecurity human risk management platform.

Data Privacy Week: How Convention 108 Paved the Way for Modern Privacy Laws
Roberto Ishmael Pennino
31/01/2025

Data Privacy Week: How Convention 108 Paved the Way for Modern Privacy Laws

Read More about AI-Native Cybersecurity Human Risk Management
TISAX Training: Strengthening Automotive Information Security and Compliance
Roberto Ishmael Pennino
27/01/2025

TISAX Training: Strengthening Automotive Information Security and Compliance

Read More about AI-Native Cybersecurity Human Risk Management
GDPR Training: Building a Culture of Compliance
Roberto Ishmael Pennino
20/01/2025

GDPR Training: Building a Culture of Compliance

Read More about AI-Native Cybersecurity Human Risk Management
What Is DORA? DORA Training for Compliance
Dr. Charlotte Jupp
20/01/2025

What Is DORA? DORA Training for Compliance

Read More about AI-Native Cybersecurity Human Risk Management
Risk Quantification for Cybersecurity Human Risk Management
Lev Lesokhin
13/12/2024

Risk Quantification for Cybersecurity Human Risk Management

Read More about AI-Native Cybersecurity Human Risk Management
Empowering Organizations with Adaptive Security Awareness Training
Roberto Ishmael Pennino
07/11/2024

Empowering Organizations with Adaptive Security Awareness Training

Read More about AI-Native Cybersecurity Human Risk Management
Cybersecurity Awareness Training for Remote Workforces
Roberto Ishmael Pennino
25/10/2024

Cybersecurity Awareness Training for Remote Workforces

Read More about AI-Native Cybersecurity Human Risk Management
Human Risk Management Gets Adaptive
Lev Lesokhin
08/10/2024

Human Risk Management Gets Adaptive

Read More about AI-Native Cybersecurity Human Risk Management
What is Cybersecurity Human Risk Management? What You Need to Know
Lev Lesokhin
23/09/2024

What is Cybersecurity Human Risk Management? What You Need to Know

Read More about AI-Native Cybersecurity Human Risk Management
Engagement Strategies for Cybersecurity Human Risk Management
Lev Lesokhin
16/08/2024

Engagement Strategies for Cybersecurity Human Risk Management

Read More about AI-Native Cybersecurity Human Risk Management
Enhance Your Phishing Training With Outthink
Lavinia Manocha
02/08/2024

Enhance Your Phishing Training With Outthink

Read More about AI-Native Cybersecurity Human Risk Management
Adaptive Security Awareness Training for Frontline Workers
Lavinia Manocha
26/07/2024

Adaptive Security Awareness Training for Frontline Workers

Read More about AI-Native Cybersecurity Human Risk Management
The Role of Security Awareness Training After IT Outages
Lev Lesokhin
26/07/2024

The Role of Security Awareness Training After IT Outages

Read More about AI-Native Cybersecurity Human Risk Management
Human Risk Management's Eight Dimensions of Secure Behavior Segmentation
Lev Lesokhin
25/07/2024

Human Risk Management's Eight Dimensions of Secure Behavior Segmentation

Read More about AI-Native Cybersecurity Human Risk Management
State-Sponsored Phishing Attacks Target 40,000 Corporate Users: What This Means for Protecting Your Business
Lev Lesokhin
18/07/2024

State-Sponsored Phishing Attacks Target 40,000 Corporate Users: What This Means for Protecting Your Business

Read More about AI-Native Cybersecurity Human Risk Management
Adaptive Security Awareness Training: Unlearning and Relearning Routines
Lev Lesokhin
10/07/2024

Adaptive Security Awareness Training: Unlearning and Relearning Routines

Read More about AI-Native Cybersecurity Human Risk Management
Did You Think Your Password Was Secure? Let’s Talk Password Security
Lev Lesokhin
24/05/2024

Did You Think Your Password Was Secure? Let’s Talk Password Security

Read More about AI-Native Cybersecurity Human Risk Management
Rethinking Security Awareness: Towards a Cybersecurity Human Risk Management Framework
Lev Lesokhin
23/05/2024

Rethinking Security Awareness: Towards a Cybersecurity Human Risk Management Framework

Read More about AI-Native Cybersecurity Human Risk Management
Password Security: Why the UK is Banning Generic Passwords
Lev Lesokhin
17/05/2024

Password Security: Why the UK is Banning Generic Passwords

Read More about AI-Native Cybersecurity Human Risk Management
Instagram Security Awareness Training: A Step-by-Step Guide
Lev Lesokhin
10/05/2024

Instagram Security Awareness Training: A Step-by-Step Guide

Read More about AI-Native Cybersecurity Human Risk Management
Cybersecurity Human Risk Management Forum Kicks Off in London
Lev Lesokhin
18/04/2024

Cybersecurity Human Risk Management Forum Kicks Off in London

Read More about AI-Native Cybersecurity Human Risk Management
Gamification Can Enhance Security Awareness Training – Badges and Leaderboards Are Just the First Step
Rory Attwood
31/01/2024

Gamification Can Enhance Security Awareness Training – Badges and Leaderboards Are Just the First Step

Read More about AI-Native Cybersecurity Human Risk Management