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.”
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