Cybersecurity trainer Immersive Labs raises $75M in an Insight Partners-led Series C round

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UK’s cybersecurity trainer Immersive Labs, which helps enterprises increase their human capabilities in cybersecurity, has netted $75M in Series C. The proceeds would be used to scale its presence in the US and for increasing its headcount, as per reports

Immersive Labs, the Bristol-based on-demand cyber skills platform that empowers organizations to increase, measure, and demonstrate their human capability in cybersecurity, has raised $75 million in a Series C round led by Insight Partners, reports state.

With this Series C investment, the total amount raised by Immersive Labs in venture funding crosses $120 million. Its recent fundraising includes a Series B funding in November 2019 from Summit Partners and an undisclosed non-equity assistance from Future Fifty in April 2021, as per Crunchbase. In the latest round, other investors – Menlo Ventures, Citi Ventures, Goldman Sachs Asset Management (an existing investor) – participated as well.

Founded in 2017, through its metrics, Immersive Labs provides security leaders insight into human cyber skills and readiness levels across their organization and assists them in improving those. They are developing a technology that can help businesses increase and evidence human capability in their security. 

James Hadley, CEO of Immersive Labs, stressed that there is now a need for everyone in an organization, from those who build software to the CEO, to be well-equipped with cybersecurity knowledge and skills. They must play their part in addressing a pervasive company issue, Mr. Hadley said, in an interview with TechCrunch.

We chose Insight Partners because they’ve got a real strength in enterprise B2B which is where we sell to CIOs and CEOs. We want to be the next Darktrace in terms of a successful UK cybersecurity company

James Hadley, CEO of Immersive Labs

As per reports, the new proceeds would be injected towards scaling the company’s services in the US, riding on the newfound interests in cyber threats and demands triggered by large-scale remote working. Immersive Labs aspires to increase its headcount to over 600 in the next two years and start operating in new regions throughout Asia Pacific (APAC) and European regions. 

Ryan Hinkle, managing director at Insight Venture Partners, stated that Immersive Labs had established a significant position in the fast-growing cyber skills domain, owing to its global customer base and revenue growth in the past few years.

With influential leadership, an innovative product in a growing market, and strong user engagement, the company is in a position to continue to lead the cyber readiness market

Ryan Hinkle, managing director at Insight Venture Partners
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