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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

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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.


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