SimSpace announced on Tuesday that it has raised $39 million for its cyber range platform, which enables organizations to test and validate their defenses in realistic cyberattack simulations.
The latest investment, a combination of debt and equity, comes from BTG Pactual U.S. Private Credit Investments, Communitas Capital, and L2 Point Management. The money will be used for new use cases and for the company’s global expansion.
SimSpace previously raised $45 million in a funding round announced in late 2023, which had brought the total raised by the firm to $70 million.
The company’s cyber range provides a realistic replica of customers’ production environments, enabling them to conduct live-fire exercises, develop and test AI agents and models, enhance threat detection, and test and optimize security tools.
“The cybersecurity landscape has shifted radically as adversaries are weaponizing agentic AI to perform increasingly sophisticated attacks,” said Peter Lee, CEO of SimSpace.
“Relying on annual capture-the-flags and traditional compliance courses to train and certify your security teams is nowhere near enough. It’s time to prepare teams in a realistic, intelligent cyber range where they can test their preparedness against live-fire attacks and validate their agentic workflows,” Lee added.
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