Cybersecurity training platform Immersive Labs has raised $40m in Series B funding

Based out of Bristol, the firm claims to be the world’s first fully interactive, on-demand and gamified cyber skills platform.

Its tech delivers challenge-based skills content, developed by experts with access to the latest threat intelligence.

Its approach measures entire workforces in an effort to equip employees with skills and practical experience.

The funding was led by global growth equity investor Summit Partners, with participation from existing investor Goldman Sachs.

The company plans to build on its momentum from its new North American headquarters in Boston.

“Gaps in cybersecurity knowledge meaningfully increase risk to an organization, creating vulnerability and presenting opportunity for attackers,” said said James Hadley, CEO of Immersive Labs.

“The rapid, constantly evolving threat landscape has made traditional classroom training for cyber skills obsolete.

“At a time when cyber skills are stretched across the board, the Immersive Labs platform enables companies to identify these weak points and rapidly skill people to address them.”

Immersive Labs was founded by CEO James Hadley, former UK Government Communications Headquarters (GCHQ) cybersecurity instructor.

The company has experienced rapid growth since its launch, with 750 per cent year-over-year increase in annual recurring revenues and an employee base which is over 100-strong.

Its clients include BT, Bank of Montreal, Citigroup and Goldman Sachs, as well as government bodies such as the UK’s National Health Service and London’s Metropolitan Police.

Antony Clavel, a Principal with Summit Partners, added, “Cybersecurity has been a core investment theme for Summit for many years.

“We recognize in Immersive Labs many of the same qualities that we’ve seen in other cybersecurity leaders: a technically strong and strategically thoughtful management team; a differentiated product addressing a large and urgent market need; and a rapidly growing base of blue-chip customers.

“We believe Immersive Labs is well-positioned to become a global category leader in cyber skills development.”