Moxso, a Copenhagen-based startup founded in 2021 by CEO Rune Boye Knudsen and CTO Mikkel Lindblom, has raised $5.5mn in a seed round led by Seed Capital. Ugly Duckling Ventures and D2 Fund also joined the financing.
The round follows a €1.5mn raise in July 2024, bringing Moxso’s total funding to $1.64mn before the latest investment.
Seed Capital added Geeta Schmidt, former Humio CEO and now CrowdStrike executive, to Moxso’s board. The appointment aligns with the firm’s new focus on cybersecurity investments.
Moxso develops AI systems that track employee behaviour, assess risk in real time, and deliver tailored security actions.
The company replaces one-size-fits-all training programs with adaptive measures that respond to shifting threats.
CEO Rune Boye Knudsen argued that security teams need more than compliance tools.
Companies don’t need more security training. They need systems that adapt as quickly as attackers do. This investment gives us the resources to accelerate development and expand across Europe.
Rune Boye Knudsen, Moxso’s CEO
“The demand is clear: organizations want measurable, automated resilience, not another compliance checkbox,” Rune Boye Knudsen said.
Seed Capital general partner Geeta Schmidt said the firm views Moxso as an opportunity to back a potential global leader.
Moxso is tackling one of the hardest problems in cybersecurity, and we’re backing them as our first investment under Seed Capital’s new cybersecurity focus because they have both the ambition and the technology to become a global category leader.
The platform combines phishing simulations, breach alerts, resilience tracking, and direct integrations with Microsoft, Google Workspace, Slack, Outlook, and other enterprise tools. It also carries ISO 27001 certification, GDPR compliance, and European hosting.
Key features include:
- Simulated phishing scenarios such as QR-based attacks and CEO fraud.
- Breach monitoring to detect leaked credentials or exposed passwords.
- A resilience score with trend tracking for measurable improvements.
NRGi cut phishing click-through rates to below 3%, compared with a typical 5% benchmark. RealMæglerne A/S reported a resilience score of 91.5%. Whiteaway Group reduced phishing click rates by 75% within six months.
Over the past year, Moxso’s headcount quadrupled while revenue tripled to double-digit mn figures. The startup also joined Google’s Growth Academy for Cybersecurity and won “SME Initiative of the Year” at the 2025 Danish Cybersecurity Awards.
Moxso currently operates in Denmark, Sweden, Norway, and Finland. With the fresh funding, the company plans to expand further into Europe, strengthen its engineering and sales teams, and advance AI-driven product innovation.
