Nov
06
2019
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Cyber-skills platform Immersive Labs raises $40M in North America expansion

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.

May
09
2017
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Online review startup Podium has raised a fat new $32 million round from Accel and GV

 Podium, a Utah-based enterprise software company specializing in customer review management, has pulled in an over-subscribed $32 million Series A round, led by Accel Partners. Read More

Feb
09
2016
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ThinkingPhones Becomes Fuze And Grabs $112 Million Investment Led By Summit Partners

Woman on phone in front of two big computer screens taking notes. ThinkingPhones, a Cambridge, Massachusetts, cloud service that offers messaging, phone service and video streaming, announced $112 million investment round today.
The company also announced it was changing its name to Fuze, which happens to be the name of the cloud video company it purchased last fall.
The round was led by Summit Partners with help from current investors Bessemer Venture… Read More

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