Cybersecurity training startup RangeForce raises $20M to expand its product
Cybersecurity training startup RangeForce Inc. today announced that it has raised $20 million in new funding to expand its product line.
Energy Impact Partners LLC and Paladin Capital Group L.P. led the Series B round, with KPN Ventures BV, Lapa Capital Partners LLC, Lanx Capital Management LLC and Cisco Investments Inc. also participating. Including the new funding, RangeForce has raised about $38.5 million in funding to date, according to data from PitchBook. The company’s last venture capital round was $16 million in July 2020.
Founded in 2009, RangeForce pitches itself as offering “cyber defense readiness at scale” through a continuous approach to developing cybersecurity skills. The company provides networks and servers in a cloud-based simulator that emulates cyberattacks and other threats in a sandbox environment.
RangeForce’s cyber defense upskilling solutions come in three tiers to meet an organization’s unique needs. All three levels include real-world interactive exercises that simulate live attacks to better protect teams against current and emerging cyber threats. The offerings are said to help cybersecurity professionals and operations teams continuously upskill employees, keeping their critical defense skills relevant against current threats while using their existing software tools.
The company’s software traces its roots to the North Atlantic Treaty Organization Cyber Range in Estonia, a multimillion-dollar facility that offers various types of hardware, software and training rooms. RangeForce founder and Chief Executive Officer Taavi Must helped design the NATO Cyber Range while working as a contractor for the organization.
RangeForce has experienced rapid growth with clients from Fortune Global 2000 companies in finance, technology and healthcare. Notable clients include Cisco Systems Inc., Pipedrive Inc., Equifax Inc., Barclays PLC and federal government entities.
“This funding supports our vision to equip the modern diverse workforce with comprehensive cybersecurity upskilling solutions that enable organizations of all sizes to defend against cyberattacks,” Must said in a statement. “Our mission is urgent in light of the global shortage of skilled cybersecurity professionals. RangeForce offers cyber defense training to frontline workers, who are the first line of defense in cybersecurity readiness while providing management with valuable insights into their team’s strengths and weaknesses.”