Cyber-skills platform Immersive Labs raises $40M in North America expansion

Published November 6, 2019

Immersive Labs, a cybersecurity skills platform, has raised $40 million in its Series B, the company’s second round of funding this year following an $8 million Series A in January.

Summit Partners led the fundraise, with Goldman Sachs participating, the Bristol, U.K.-based company confirmed.

Immersive, led by former GCHQ cybersecurity instructor James Hadley, helps corporate employees learn new security skills by using real, up-to-date threat intelligence in a “gamified” way. Its cybersecurity learning platform uses a variety of techniques and psychology to build up immersive and engaging cyber war games to help IT and security teams learn. The platform aims to help users better understand cybersecurity threats, like detecting and understanding phishing and malware reverse-engineering.

It’s a new take on cybersecurity education, as the company’s founder and chief executive Hadley said the ever-evolving threat landscape has made traditional classroom training “obsolete.”

“It creates knowledge gaps that increase risk, offer vulnerabilities and present opportunities for attackers,” said Hadley.

The company said it will use the round to expand further into the U.S. and Canadian markets from its North American headquarters in Boston, Mass.

Since its founding in 2017, Immersive already has big customers to its name, including Bank of Montreal and Citigroup, on top of its U.K. customers, including BT, the National Health Service and London’s Metropolitan Police.

Goldman Sachs, an investor and customer, said it was “impressed” by Immersive’s achievements so far.

“The platform is continually evolving as new features are developed to help address the gap in cyber skills that is impacting companies and governments across the globe,” said James Hayward, the bank’s executive director.

Immersive said it has 750% year-over-year growth in annual recurring revenues and more than 100 employees across its offices.

Goldman Sachs leads $8M round in cybersecurity skills platform Immersive Labs

Goldman Sachs leads $8M round in cybersecurity skills platform Immersive Labs

Published January 14, 2019

Immersive Labs, a cybersecurity skills platform founded by former GCHQ researcher James Hadley, has raised $8 million in Series A funding. Leading the round is Goldman Sachs, with participation from a number of unnamed private investors.

Operating in the cybersecurity training space, Immersive Labs helps enterprise IT and other cybersecurity teams acquire the latest security skills by combining up to date threat data with what is described as “gamified” learning. This sees the startup use real-time feeds of the latest attack techniques, hacker psychology and technological vulnerabilities to quickly create “cyber war games” for IT and security teams to learn from.

The idea is that the platform can up-skill people within hours of a threat emerging, in addition to being used more generally to help identify and remedy less immediate weaknesses in a company’s cybersecurity team.

“First, there is a big picture problem that the world is crying out for cybersecurity talent and is currently struggling to fill that gap,” Immersive Labs founder and CEO James Hadley tells me. “Secondly, the way that cyber skills are being taught is massively obsolete and puts the companies they work for at risk. On many occasions, what is taught is out of date before people leave the classroom.”

The inspiration for Immersive Labs was born out of Hadley’s experience running a summer school at GCHQ. It was while running the course that he came to the realisation that “passive classroom-based learning doesn’t suit the people, or pace, of cybersecurity.”

“Not only does the content date quickly, but the lack of challenge is just not enough for the curious and creative minds required to be good in cyber. You can’t dictate, they have to teach themselves through exploration,” he says.

“We let technical and security teams learn cyber skills like an attacker, allowing them to keep pace by combining breaking threat data with short browser-based war games. This takes the form of a series of stories that encourage people to research, analyse and build their own attacks and solutions. Whilst doing this, they learn in a fun and compelling way.”

To that end, Immersive Labs says its Series A funding will be used to grow its offering for enterprise IT and cybersecurity teams. This will include investing in headcount and infrastructure to develop the platform further, and to support the company’s go-to-market strategy. Current clients include global corporates with complex cybersecurity needs, such as BAE Systems, Sophos and Grant Thornton.