Estonian-founded cyber range company CybExer raises €5 million in funding

Estonian-founded cyber range company, CybExer Technologies, announced a €5 million funding round to meet market demand and expand its global operations in the face of a global cyber security skills gap and the explosive growth in increasingly sophisticated cyber-attacks.

CybExer has developed what it says is “a highly scalable cyber range platform that supports both cloud and on-premises demands. The platform delivers NIST/NICE-compliant testing and evaluation, as well as seamless integration of highly complex industry-specific core business applications such as directory services, international transfers and payments, 5G, OT/SCADA, and mission critical systems in aerospace and defence. CybExer’s growing roster of clients includes some of the most demanding defence and commercial organisations around the world.”

The investment round was led by Karma Ventures who were joined by First Fellow Partners, Specialist VC and select angel investors with deep cyber security industry experience.

CybExer currently estimates the cyber range market to be above €5 billion annually and expanding as confirmed by the increasing customer interest.

On 30 October, the grand finale of the Cyber Battle of Estonia 2021 competition, supported by CybExer, took place in Tartu. Photo by Gabriela Urm.

Expanding its global presence

The company is planning to significantly bolster its team in development, customer success and sales organisation, and it will also expand its global presence.

CybExer is a cyber security company that provides and maintains cyber security training platforms with a special focus on cyber capability development.

Its flagship offering is a proprietary cyber range to conduct highly realistic live-fire exercises for improving prevention and response strategy, complemented by the Sandbox solution that tests and challenges IT infrastructure to locate and identify vulnerabilities.

The company, founded in Estonia, has a premier customer base in more than 30 countries and has hosted on its platform some of the largest multinational cyber security events, it says.

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