Cyberbit, a provider of cyber range training and simulation platforms, announced that Charlesbank Technology Opportunities Fund has invested $70 million in the company, a combination of a primary investment and a secondary purchase from Elbit Systems.
Existing investor Claridge Israel also participated in the round.
Cyberbit plans to use the funding to accelerate the development of its cyber range product and to grow global sales and marketing.
In 2019 Cyberbit launched its cloud-based cyber range offering enabling customers to participate in cyber range exercises on demand, from any location.
“We are experiencing record demand for our cyber range as organizations recognize the importance of real-world cyberattack simulation to assess and prepare their security teams,” said Adi Dar, CEO of Cyberbit.
The funding will also be leveraged to accelerate sales and marketing in India, to increase our existing reach within the financial and enterprise sector, and particularly to penetrate the higher education sector in India, said Rakesh Kharwal, MD-India, Cyberbit.
