Cyberbit, a leading provider of cybersecurity skill development platforms, announced a new round of funding from existing investors, including Charlesbank Capital Partners, an established middle-market private investment firm. This deal recapitalizes the company under solely North American ownership and control and will provide the resources for future acquisitions, expansion, and product development.
Over the past year, Cyberbit has committed to several strategic initiatives to accelerate expansion, including appointing Caleb Barlow, creator of the IBM cyber range, as CEO, relocating its global headquarters to the US, launching a new subsidiary focused on government growth, and adding several new leadership team members who were part of the IBM team that established the world’s first commercial cyber range. With these significant goals combined with new funding, Cyberbit is well-positioned to accelerate its growth in North America and additional growth markets, including Europe, the Middle East, and the Indo-Pacific regions.
KEY QUOTES:
“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.”
- Caleb Barlow, CEO of Cyberbit
“We are thrilled to support Cyberbit in this new growth chapter. As the threat of cyberattacks on organizations continues to escalate, this new capital will allow Cyberbit to meet the growing demand for its services and widen its expansion across U.S and allied governments.”
- Darren Battistoni, Managing Director of Charlesbank Capital Partners and Chairman of the Board of Directors at Cyberbit
