Cyberbit, a leading provider of cybersecurity skill development platforms, today announced a significant new round of funding from existing investors, including Charlesbank Capital Partners, a renowned middle-market private investment firm.
This transaction marks a shift to solely North American ownership and control, ensuring a robust financial base for future acquisitions and expansion efforts.
Cyberbit, known for its advanced cyber range that simulates realistic cybersecurity threats, aims to use the new funding to drive further expansions and product enhancements.
The company has recently focused on strategic growth, having appointed Caleb Barlow as CEO and relocating its global headquarters to the US.
The investment will support Cyberbit’s plans to enhance its presence not only in North America but also across other key markets such as Europe, the Middle East, and the Indo-Pacific regions. This geographical expansion aligns with the company’s goal of delivering cutting-edge, hyper-realistic cybersecurity training solutions.
Caleb Barlow, CEO of Cyberbit, said, ““Throughout 2024, we have taken several strategic actions to realign our organization with key markets in North America and globally.
“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.”
Darren Battistoni, Managing Director of Charlesbank Capital Partners and Chairman of the Board of Directors at Cyberbit, also expressed enthusiasm for this new chapter in Cyberbit’s growth, highlighting the increasing demand for cybersecurity services amid rising cyberattack threats.
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