Immersive Labs secures £31.1m Series B led by Summit Partners and Goldman Sachs to expand in North America
The funding round was led by Summit Partners with participation from Goldman Sachs to support North American expansion.
Immersive Labs provides a cybersecurity platform that measures and improves human cyber skills across technical and non-technical teams. The business currently counts major organisations such as HSBC, Vodafone and the NHS among its clients.
Immersive Labs has secured £31.1m in a Series B funding round led by Summit Partners, with continued participation from Goldman Sachs. The capital will be directed towards supporting expansion initiatives in North America as demand for active training solutions grows. The company provides a gamified cyber skills platform used by prominent banks and government organizations to identify knowledge gaps and train personnel against evolving threats.
Founded by former GCHQ instructor James Hadley, the business has scaled rapidly, reporting substantial increases in annual recurring revenues and expanding its headcount past one hundred employees. The latest investment follows earlier backing from Goldman Sachs and positions the firm to build on its momentum from its new North American headquarters in Boston.
From the founder
"Gaps in cybersecurity knowledge meaningfully increase risk to an organization, creating vulnerability and presenting opportunity for attackers. The rapid, constantly evolving threat landscape has made traditional classroom training for cyber skills obsolete,"
James Hadley
CEO and Founder at Immersive Labs
Investor perspective
"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."
Antony Clavel
Principal, Summit Partners
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
Immersive Labs
Immersive Labs provides a cybersecurity platform to measure and improve human cyber skills across organisations.