Hack The Box, a cybersecurity platform raised $55 million in a funding round

HackTheBox, a platform for talent assessment and continuous cybersecurity upskilling raised $55 million in funding.

The funding was raised with help from Carlyle, Paladin Capital Group, Osage University Partners, Marathon Venture Capital, Brighteye Ventures, and Endeavor Catalyst Fund.

With the addition of this Series B funding, HackTheBox has now raised $70M in total, improving its standing within the global cybersecurity ecosystem.

With a focus on growing its portfolio of “gamer-first” products, in which the company already has the market leader, the new investment will accelerate HackTheBox’s growth trajectory.

To accelerate the business’s continuous worldwide expansion, which has gained significant commercial traction in the US, Europe, and Asia, HTB will also enhance its go-to-market function.

The 1.7M users of the site are made up of people who joined HTB on their initiative to learn skills and gain certificates as well as representatives from 1,500 enterprises, universities, governments, and other organizations.

the startup will continue to make large R&D investments. They will be able to keep up with the continuously evolving threat landscape and cyber technology thanks to this.

HTB, a superior 360-degree platform founded in 2017 by Aris Zikopoulos, Haris Pylarinos, and James Hooke, not only enables individuals, businesses, government organizations, and universities to improve their offensive and defensive security capabilities but also provides access to job opportunities in cybersecurity, thereby addressing the critical talent shortage in the industry.

The goal of HTB is to immerse users in learning settings centered around gamification, avatar simulations, and narrative scenarios meant to resemble classic cyber-hacks of varied and increasing levels of sophistication.

Half of the team members are based in Greece and the other half is spread out across the globe among the company’s more than 180 workers. Additionally, the company has representation from more than 20 different countries and cultural groups. Out of 180 employees at HTB, 22% are women, 76% are men, and 2% are unknown.

“Our goal is to develop cyber-ready individuals and groups by connecting them through extremely entertaining hacking activities that encourage creative problem-solving. Due to an ever-growing and constantly developing tsunami of sophisticated attacks, the rules of the game have altered in the cyberspace arena. Defensive, reactive, and recovery postures are no longer appropriate “explained HTB’s founder and CEO, Haris Pylarinos.

Haris continued, “Instead of waiting to be attacked, fighting cybercriminals requires a new aggressive and defensive strategy. This entails developing a “hacker mindset,” or learning to think and act like an attacker, for everyone involved in security, from individuals to businesses. HackTheBox helps us build this kind of mentality.

The demands on security and IT specialists have never been higher, says Constantin Boye, a Director at Carlyle. Professionals and companies must uphold best-in-class security policies due to a talent shortage across the industry and a rapid increase in cyber threats.”

Constantin Boye went on to say, “To help people and businesses solve real-world hacking problems, HTB is a pioneer in continuously delivering new and carefully chosen training and upskilling content. HackTheBox is looking forward to the next phase of its development, and we are honored to be a part of it.

“With a lively community of 1.7M registered security professionals and enthusiasts, HTB is setting the bar for a new generation of product-led growth firms in the cybersecurity market,” adds Gibb Witham, Senior Vice President at Paladin Capital Group. We are happy to witness the startup establish itself as a crucial partner for businesses and governments in building security teams ready for cyberattacks.

Image Credit: HackTheBox