Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Funding/M&A

SimSpace Scores $45 Million Investment to Expand Cyber Range Tech Markets

The new round of financing was led by L2 Point Management and brings the total raised by Boston-based SimSpace to $70 million.

Boston cyber-range training startup SimSpace has banked $45 million in new funding and announced ambitious plans to bring its technology to new markets around the world.

The company said the new equity round was led by L2 Point Management and brings the total raised to $70 million.

SimSpace is marketing a so-called “Cyber Force Platform” that provides technology for organizations to stand up pre-defined or customized cyber range simulations that are secure and scalable

“SimSpace’s internal threat intelligence teams and partners, such as Mandiant and the US Cyber Command collaborate to ensure that updated tactics, techniques, and procedures are available [on cyber ranges],” the company said in a note announcing the new capital raise.

The company said it has found traction with Fortune 2000 companies, and national and state governments to provide training and stress-testing capabilities for defensive tools and cyber teams. 

SimSpace said its product can be used to help audits, governance and cyber insurance requirements, improve prevention and reduce incident response costs, and optimize communications among defenders.

In a note announcing the funding round, Simpace CEO William Hutchison said the plan is to enter new markets around the world and speed up the pace of customer acquisition.”

Related: IBM Opens New Security HQ and Cyber Range in Cambridge

Advertisement. Scroll to continue reading.

Related: Cyber Range Developer Cyberbit Raises $30 Million

Related: Accenture Launches Cyber Ranges for Industrial Companies

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.

Trending

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Learn about active threats targeting common cloud deployments and what security teams can do to mitigate them.

Register

Join us for an in depth exploration of the critical nature of software and vendor supply chain security issues with a focus on understanding how attacks against identity infrastructure come with major cascading effects.

Register

Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Cyber Insurance

Cyberinsurance and protection firm Boxx Insurance raises $14.4 million in a Series B funding round led by Zurich Insurance.

Management & Strategy

SecurityWeek examines how a layoff-induced influx of experienced professionals into the job seeker market is affecting or might affect, the skills gap and recruitment...

Cybersecurity Funding

2022 Cybersecurity Year in Review: Top news headlines and trends that impacted the security ecosystem

Training & Awareness

Google has announced a new training program for cybersecurity analysts and those who graduate will get a professional certificate from Google.

Cybersecurity Funding

Network security provider Corsa Security last week announced that it has raised $10 million from Roadmap Capital. To date, the company has raised $50...

Funding/M&A

Thirty-five cybersecurity-related M&A deals were announced in February 2023