Greece-based cybersecurity training startup Hack The Box has raised a $ 10.6 million Series A investment round, led by Paladin Capital Group and joined by Osage University Partners, Brighteye Ventures and the existing investors Marathon Venture Capital. It will use the funding to grow. Most recently, he launched Hack The Box Academy.
Launched in 2017, Hack The Box specializes in using “ ethical hacking ” to train cybersecurity techniques. Users face challenges in “attacking” vulnerable virtual labs in a simulated, gamified, and test environment. This approach has brought together more than 500,000 platform members, from beginners to experts, and has led approximately 800 organizations (such as governments, Fortune 500 companies, and academic institutions) to improve their cyber adversary knowledge.
Haris Pylarinos, Co-Founder and CEO of Hack The Box, said, “Everything we do is aimed at creating a safer Internet by enabling business teams and individuals to create unbreakable systems.”
Gibb Witham, Senior Vice President, Paladin Capital Group, commented, “We are delighted to support Hack The Box at this inflection point in their growth as organizations recognize the growing importance of a conflicting security practice for fight against constantly evolving cyber attacks. ”
Hack The Box competes with Offensive Security, Immersive Labs,
INE and eLearnSecurity (acquired by INE).
Hack The Box uses a SaaS business model. In the B2C market, it provides monthly and annual subscriptions that provide unlimited access to training content and in the B2B marketplace, it provides semi-annual and annual licenses that provide access to dedicated competing training environments with capabilities to value-added administration.