Hack The Box lands £45m for gamified cybersecurity platform

Hack The Box funding Image credit: Hack The Box

Hack The Box has landed £45.2m in Series B funding for its gamified cybersecurity training and upskilling platform.

The Kent-based company will use the fresh capital to invest in R&D and continue its overseas expansion in the US, Europe and Asia-Pacific.

“The game in cyber has changed with defensive, reactive and recovery postures not being fit-for-purpose in the face of an ever-increasing and ever-evolving wave of sophisticated attacks,” said Haris Pylarinos, founder and CEO of Hack The Box.

The company’s Series B round was led by Carlyle, with support from Paladin Capital Group, Osage University Partners, Marathon Venture Capital, Brighteye Ventures, and the Endeavor Catalyst Fund.

Hack The Box provides games such as “capture the flag” to teach people about cybersecurity best practice, along with courses and a jobs portal.

Gibb Witham, senior vice president of Paladin Capital Group, said: “We are thrilled to see Hack The Box becoming a vital partner for enterprises and governments in crafting security teams prepared for cyber attacks.”

According to the firm, it has 1.7 million users of its cybersecurity training software, it has raised $70m (£57.6m) to date since it was founded in 2017.

“An industry-wide talent shortage and an exponentially growing number of cyber threats place great importance on professionals and organizations to maintain best-in-class security practices,” said Constantin Boye, director at Carlyle.