Author
Samuel
Category
Blog ContentUpdated on
2024-09-28
Living Security, a SaaS enterprise, aids medium and large businesses in managing human risk. Co-founder Ashley Rose reveals behind-the-scenes insights on the company's expansion and the obstacles they faced while introducing a novel solution to the market.
Ashley Rose is the founder and CEO of Living Security. She has always been passionate about finding innovative ways to solve complex problems. Ashley holds a degree in Business Administration and has spent over a decade in various roles within business, marketing, product management, and cybersecurity. Her journey through these fields led her to recognize a critical gap in how organizations approach security training and awareness, which inspired her to pioneer human risk management as an expanded category.
Living Security was founded in 2017 with the mission to transform how organizations manage human risk by leveraging existing security data to identify human risk and protect the workforce through engaging, behavior-changing security awareness training.
The company serves a diverse range of clients, from Fortune 500 companies to mid-sized enterprises, providing them with interactive training modules, gamified experiences, and robust analytics to measure the effectiveness of their programs. Ashley and her co-founder, Drew Rose, have been committed to building a company that not only enhances security but also fosters a positive security culture within organizations.
Living Security operates as a software-as-a-service (SaaS) company. They license their Human Risk Management platform to medium and large enterprises at a per-user price.
Living Security has seen substantial growth, with annual revenues amounting to several million dollars.
The inspiration for starting Living Security arose from witnessing firsthand the limitations of traditional security awareness training. Many organizations were using outdated and ineffective methods that failed to engage employees or change their behavior.
Ashley saw an opportunity to leverage modern technology and behavioral science to create human risk programs that were not only informative but also data-driven, engaging, and impactful. Her goal was to build a company that could bridge this gap, helping organizations significantly reduce their human risk.
Living Security was officially launched in 2017. The initial phase involved extensive research and development to create their core product offerings. They began by developing a series of interactive and gamified training modules that could be easily integrated into existing corporate training programs.
The first clients were primarily obtained through networking and leveraging industry connections. The positive feedback and early success they experienced helped secure additional funding and expand the team, allowing them to scale operations and reach a broader audience.
Living Security started as a bootstrapped venture, relying on initial funding from personal savings and early revenue. As they demonstrated market demand and achieved significant milestones, they attracted the attention of investors. To date, they have raised several rounds of venture capital, with their latest Series B funding round bringing in $14 million. This funding has enabled them to accelerate growth, expand product offerings, and enhance marketing efforts.
The first few clients were acquired by leveraging their existing network in the cybersecurity industry. They reached out to contacts who understood the importance of effective security training and were willing to pilot their program.
Word-of-mouth referrals also played a significant role in their early growth. As clients experienced the benefits of their engaging training modules, they recommended the company to other organizations.
Additionally, they attended industry conferences and events to showcase their products and connect with potential customers. These strategies helped them build a solid client base and establish credibility in the market.
The first year was challenging yet rewarding. Ashley and her team spent countless hours developing their product, refining their approach, and ensuring it was effective and engaging. This initial phase involved a great deal of trial and error as they tested different strategies and gathered feedback from early clients.
Despite the long hours and intense workload, witnessing the positive impact of their training programs on client organizations was incredibly fulfilling. Financially, they reinvested their earnings back into the business to support product development and marketing efforts. Their perseverance paid off as they experienced accelerating growth and began building a strong reputation in the industry.
Several strategies were crucial in driving their growth:
Through these strategies, Living Security successfully established itself as a leader in security training and awareness, helping organizations to understand and mitigate human risk in an increasingly digital landscape.
The most significant keys to their success include:
Prioritizing clients’ needs and feedback has helped them develop products that truly address customers’ pain points and deliver value.
Continuously innovating and staying ahead of industry trends has allowed them to offer cutting-edge solutions that differentiate them from competitors.
Developing a talented and dedicated team has been important. Their team’s expertise and commitment to the mission drive the company’s success.
Navigating challenges with resilience and maintaining a positive outlook has helped them overcome obstacles and stay focused on their goals.
Their team consists of 35 employees, including full-time and part-time staff, contractors, and freelancers. They operate primarily out of Austin, Texas, but also have remote team members across different regions.
The team is diverse, with expertise in various areas such as cybersecurity, instructional design, technology, marketing, and customer support. This diversity allows them to bring different perspectives to the table and develop well-rounded solutions for their clients.
They engaged in business development and secured their first customers before going full-time in the business. The transition point came when they were offered admission into a cybersecurity startup accelerator program. The program invested a modest amount initially in the business, with the stipulation that the founders commit to it full-time. In return, it provided a “micro-MBA” on startups, where they learned how to build a financial model, investment deck, GTM plan, etc., to secure their first seed round of funding to grow the business.
The turning point for them was when they secured their first large enterprise client. This was a significant validation of their product and approach. The positive feedback and subsequent referrals from this client led to a wave of new business opportunities, confirming that they were on the right track.
When hiring, a candidate's fit with the company culture often takes precedence over their resume experience.
They are taking an entirely new approach to managing human risk for organizations. Instead of a one-size-fits-all approach to security awareness and compliance training, they help organizations leverage their existing security data to identify the riskiest and most vigilant employees. This enables organizations to respond with targeted training and controls, allocating their resources more effectively to improve their security posture. Organizations seeking to adopt a risk-based approach for their human risk program collaborate with Living Security.
Their advice for other entrepreneurs is to stay resilient and adaptable. Building a business is full of challenges and uncertainties, but maintaining a positive attitude and being open to change can help navigate these obstacles.
They emphasize the importance of focusing on solving real problems for customers and always seeking feedback to improve offerings. Finally, they recommend surrounding oneself with a talented and supportive team that shares the same vision and values.
To learn more about Ashley Rose and her business visit:
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