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Investors Bet Big on Subscription-Based Security Skills Training

Hack The Box Raises $55 Million in Funding Round Led by Carlyle

Hack The Box Raises $55 Million in Funding Round Led by Carlyle

Hack The Box, a British startup working on technology to simplify cybersecurity skills training, has banked a $55 million funding round as venture capital investors place big bets on the subscription-based talent assessment space.

Hack the Box said the $55 million Series B was led by global investment firm Carlyle. Paladin Capital Group, Osage University Partners, Marathon Venture Capital, Brighteye Ventures, and Endeavor Catalyst Fund also invested.

Since its founding in 2017, Hack the Box has raised $69.5 million and built a platform to help organizations with the continuous need to assess and train cybersecurity talent. 

Hack The Box sells monthly subscriptions to a platform that offers online hacking labs, penetration testing labs, multiplayer hacking battles, CTF (capture the flag) competitions and online security courses.

The company has also targeted the enterprise market with gamified corporate security training aimed at CISOs, CIOs, security managers and product teams and claims more than 1,400 organizations have used its training platform.

Hack The Box said it will use the cash injection to fuel global expansion, especially in the U.S., Europe, and APAC. 

The company also plans to invest heavily on product development with ambitious plans to become “the ultimate reference point” for cybersecurity professionals of all backgrounds, skill levels, and industries.

Related: Cybrary Raises $25 Million to Tackle Cybersecurity Workforce Training

Related: New CISA Boss Calls Attention to Cybersecurity Skills Shortage 

Related: Predictions 2023: Big Tech’s Coming Security Shopping Spree

Written By

Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. He is a security community engagement expert who has built programs at major global brands, including Intel Corp., Bishop Fox and GReAT. Ryan is a founding-director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world.

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