Immersive Labs, has announced that it has closed $75m in Series C funding led by new investors Insight Partners alongside Menlo Ventures, Citi Ventures and existing investor Goldman Sachs Asset Management.
The company said in a statement, “The investment will accelerate delivery of a progressive new Cyber Workforce Optimization platform. From crisis management with executives to secure software development amongst engineers and ensuring compliance in legal teams, the platform will use data insights to understand where skills are required and inject role-specific training. It will also enable board-level metrics and benchmarking.”
Immersive Labs, which has now received $123m in venture funding, currently counts organizations such as HSBC, Vodafone and the NHS as customers.
James Hadley, CEO and Founder of Immersive Labs, said, “With cyber risk becoming a problem for a growing number of business functions, cybersecurity knowledge andskills should no longer be the preserve of a few technical people hidden away in a back office. Everyone from the teams who build software to the CEO now needs to play their part in addressing a pervasive company issue. This requires unlocking and evidencingskills in a much broader group of people. The first step to achieving this lies in understanding where capabilities are lacking which, until now, has been impossible. This investment will allow us to add new analytical capabilities and content to provide a more detailed picture of skills across the growing breadth and depth of cyber exposure facing organizations, helping them measure and manage risk better.”
“With significant global customer and revenue growth over the last few years, Immersive Labs has established a strong position in the fast-developing cyber skills space,” said Ryan Hinkle, Managing Director at Insight Partners. “With influential leadership, an innovative product in a growing market and strong user engagement, the company is in a position to continue to lead the cyber readiness market.” As part of the transaction, Hinkle will be joining the company’s Board of Directors.
Since founding in 2017, Immersive Labs has grown to over 200 people, with joint operations HQs in Bristol and Boston.
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