Immersive Labs, a UK-based gamified cyber skills platform provider, has raised $40 million in Series B funding led by global investment and private equity firm Summit Partners. The company will use the funding to expand its North American operations.
The Immersive Labs platform applies game mechanics to cyber skills development, according to the company. It enables both security specialists and business users to simulate real world cybersecurity situations based on real world attack techniques and emerging or zero-day threats.
Furthermore, the Immersive Labs platform allows organizations to analyze internal skill levels and identify skill shortages, the company stated. It also maps organizations' existing security capabilities to globally recognized security frameworks.
Immersive Labs has achieved 750 percent year-over-year annual recurring revenue growth since its 2017 launch, the company noted. It has over 100 employees and a North American headquarters in Boston, Massachusetts and looks poised to accelerate its growth in the foreseeable future.
Living Security Raises $1.25 Million in Seed Funding
In addition to Immersive Labs' Series B funding, cybersecurity gamification solutions provider Living Security last year closed a $1.25 million seed funding round.
Living Security provides Cyber Escape Rooms that enable organizations to offer continuous cybersecurity training, the company said. The Cyber Escape Rooms teach users about different types of cyber threats and help reduce the risk of human errors that may lead to data breaches.