It was in June of last year that we reported how Immersive Labs, a platform that teaches employees cybersecurity skills the “gammed” way, closed a $75 million Series C funding round. As of today, the company has raised another $66 million, bringing its total raised to $189 million.
And it can probably attribute its success in part to Covid-19. The company previously said the new wave of interest in corporate cyber security is due to more people moving to work remotely, a habit picked up during the pandemic, and now companies are implementing it by default.
Ten Eleven Ventures led the latest raise, while existing investors Goldman Sachs Asset Management, Summit Partners, Insight Partners, Melo Ventures and Citi Ventures all participated in the round.
Immersive Labs grew out of a cyber accelerator in London, the brainchild of James Hadley, a former GCHQ security researcher and trainer, who realized that ordinary workers were the weakest links in most organizations and needed a better way to learn cyber security.
The capital will be used to grow the “Cyber Workforce Resilience” category and provide solutions to corporate clients such as Citi, Goldman Sachs, HSBC, Pfizer, Daimler, Humana, Atos and the UK National Health Service.
In a statement, Hadley said: “Attracting new investment during a challenging time for the technology sector as a whole highlights the tremendous demand for Immersive Labs’ disruptive and people-centric approach to cybersecurity.” Ensuring cyber resilience has increasingly become a board and C-level concern.
Immersive has strengthened its executive team with Sandra McDevitt as Chief Human Resources Officer and Lucian Lui as Chief Marketing Officer. Dave Palmer (Ten Eleven general partner and co-founder and former chief product officer of Darktrace) will join the company’s board, while Jack Hufford (tenable co-founder and current non-executive director of Immersive) will become chairman.
“As we see an increased focus on ensuring cyber resilience in the public and private sectors, Immersive Labs will play a key role in the future of cyber security,” added Palmer.