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Venture Capital
passioncapital.com

Investments

133

Portfolio Exits

18

Funds

3

About Passion Capital

Passion Capital is a partnership of entrepreneurs and operators who are applying experiences to helping founders and early-stage teams build digital media/technology companies.

Headquarters Location

2nd Floor 144a Clerkenwell Road

London, England, EC1R 5DF,

United Kingdom

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Latest Passion Capital News

CultureAI Secures £7 Million Seed Funding to Reduce Human Security Risks

May 3, 2023

CultureAI Secures £7 Million Seed Funding to Reduce Human Security Risks CultureAI announces it has raised £7 million in seed funding, with investment from Conviction VC, Passion Capital; Senovo; and angel investors Paul Forster, founder of Indeed; and Guntram Friede, formerly Head of Marketing EMEA at Mulesoft. The investment will be used to improve the platform further and double the size of the company’s team, with a strong focus on R&D and new GTM strategies. This builds on a period of impressive growth. To date, CultureAI has helped to manage the security behaviours of more than 250,000 employees across customer organisations. This includes NatWest, Three and Dojo, and more recently Royal Mail Group and business banking platform Tide. CultureAI also opened a second UK office in London in February, ahead of its plans to expand internationally. Most corporate cybersecurity breaches are a result of employee security behaviour, such as clicking on phishing emails, using the same passwords across multiple applications, or storing corporate data in unapproved SaaS apps. Typically, organisations are unable to capture or measure this, because they lack visibility of employee security behaviour, beyond running phishing simulations. CultureAI is a data-driven, cloud-based human risk management and automation platform for security and awareness teams that helps organisations measure, reduce, and respond to all cyber risks created by their workforces. The platform integrates with an organisation’s existing tech stack to surface actionable employee security behaviour insights. This data drives personalised security awareness coaching to reduce risky behaviours, reinforced by automated technical interventions if the behaviours persist, and security nudges to empower employees to fix their own security risks all in a single click. Since first launching in 2018, CultureAI has quickly gained recognition from prominent organisations in various sectors, including finance and government, seeking to transform their security cultures. In the last 12 months, CultureAI has quadrupled revenues and moved from being a founder-led business to a growth business driven by a best-in-class sales and marketing function. The team has more than tripled in size (to 35) attracting talent from prominent cyber security organisations.

Passion Capital Investments

133 Investments

Passion Capital has made 133 investments. Their latest investment was in CultureAI as part of their Seed VC - II on May 5, 2023.

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Passion Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/3/2023

Seed VC - II

CultureAI

$8.76M

No

4

2/27/2023

Seed VC

Cordless

$2.3M

Yes

4

1/26/2023

Seed VC - III

Salv

$4.36M

No

12

11/24/2022

Pre-Seed

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$99M

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10

11/14/2022

Series A

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$99M

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10

Date

5/3/2023

2/27/2023

1/26/2023

11/24/2022

11/14/2022

Round

Seed VC - II

Seed VC

Seed VC - III

Pre-Seed

Series A

Company

CultureAI

Cordless

Salv

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Amount

$8.76M

$2.3M

$4.36M

$99M

$99M

New?

No

Yes

No

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Co-Investors

Sources

4

4

12

10

10

Passion Capital Portfolio Exits

18 Portfolio Exits

Passion Capital has 18 portfolio exits. Their latest portfolio exit was Sugar on June 15, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/15/2022

Acquired

$99M

4

6/1/2022

Acquired

$99M

4

11/10/2021

Acquired

$99M

2

10/29/2021

Acquired

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$99M

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10

10/4/2021

Acquired

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$99M

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10

Date

6/15/2022

6/1/2022

11/10/2021

10/29/2021

10/4/2021

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

4

4

2

10

10

Passion Capital Fund History

3 Fund Histories

Passion Capital has 3 funds, including Passion Capital Fund III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/10/2021

Passion Capital Fund III

$62.5M

1

5/28/2015

Passion Capital II

$99M

10

4/1/2011

Passion Capital I

$99M

0

Closing Date

3/10/2021

5/28/2015

4/1/2011

Fund

Passion Capital Fund III

Passion Capital II

Passion Capital I

Fund Type

Status

Amount

$62.5M

$99M

$99M

Sources

1

10

0

Passion Capital Team

1 Team Member

Passion Capital has 1 team member, including current Investment Partner, Mark Zaleski.

Name

Work History

Title

Status

Mark Zaleski

Investment Partner

Current

Name

Mark Zaleski

Work History

Title

Investment Partner

Status

Current

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