The startup creates a cybersecurity training platform for businesses and plans to expand its presence in Asia Pacific.
Cybersecurity education startup Immersive Labs has raised $ 75 million in a Series C round to further internationalize.
The round was led by Insight Partners and Menlo Ventures, Citi Ventures and Goldman Sachs Asset Management joined the investment.
Immersive Labs is a cybersecurity training platform that helps companies train their staff in various cybersecurity skills and tools to prevent and curb the impact of cyber attacks. The NHS, Vodafone and HSBC are among its clients
The Bristol-based start-up said the funds will be used to further develop its Cyber Workforce Optimization platform.
Chief Executive Officer James Hadley said that more and more people in companies need to have some degree of cybersecurity skills rather than “a few technicians hiding in a back office.”
“Everyone from the teams creating software to the CEO must now play their part in addressing a pervasive business problem. This requires unlocking and demonstrating skills in a much broader group of people, ”said Hadley, who was a former cybersecurity instructor at GCHQ.
Businesses will be spooked by the countless cyber attacks of recent times, such as the ransomware attacks on Colonial Pipeline and JBS. Part of the strategy to prevent attacks like these from occurring is to ensure that staff are aware of cyberspace.
“The first step to achieving this is understanding where capabilities are lacking, which, until now, has been impossible,” Hadley said. “This investment will allow us to add new analytical capabilities and content to provide a more detailed picture of skills in the increasing breadth and depth of cyber exposure that organizations face, helping them better measure and manage risk.”
This, the company added, will also help address the cybersecurity talent supply shortage.
In recent years, Immersive Labs has delved further into the US market with a base in Boston and plans to use this new funding to establish operations in new regions of Europe and Asia Pacific. It plans to triple its workforce to 600.
“With significant global customer and revenue growth in recent years, Immersive Labs has established a strong position in the rapidly developing cyber skills space,” said Ryan Hinkle, managing director of Insight Partners, who joins the board of the company.
“With influential leadership, an innovative product in a growing market, and strong user engagement, the company is poised to continue to lead the cyber readiness market.”