Cyberbit Inc., a leading provider of cybersecurity skill development platforms, announced a new round of funding from existing investors, including Charlesbank Capital Partners, an established middle-market private investment firm. This transaction, which recapitalizes the company under solely North American ownership and control, will provide significant capital for future acquisitions, expansion, and product development.
Over the past year, Cyberbit has undertaken several strategic initiatives to accelerate expansion, including appointing Caleb Barlow, creator of the IBM cyber range, as CEO, relocating its global headquarters to the United States, launching a new subsidiary focused on government growth, and adding several new leadership team members who were part of the IBM team that established the world’s first commercial cyber range. With these significant initiatives, coupled with new funding, Cyberbit is well-positioned to accelerate its growth in North America as well as in additional growth markets including Europe, the Middle East, and Indo-Pacific regions.
“Throughout 2024, we have taken several strategic actions to realign our organization with key markets in North America and globally,” said Mr. Barlow, CEO of Cyberbit. “With new funding and 100% North American ownership, we are now positioned to focus on growth and expansion into new geographies, as we fulfill our mission of delivering hyper-realistic experiences that build elite cybersecurity teams.”
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“We are thrilled to support Cyberbit in this new growth chapter,” said Darren Battistoni, Managing Director of Charlesbank Capital Partners and Chairman of the Board of Directors at Cyberbit. “As the threat of cyberattacks on organizations continues to escalate, this new capital will allow Cyberbit to meet the growing demand for its services and widen its expansion across U.S and allied governments.”
SOURCE: BusinessWire