Carlyle : leads $55m Series B investment round in Hack The Box

Carlyle : leads m Series B investment round in Hack The Box

London, United Kingdom, 11 January 2023 – Global investment firm Carlyle (NASDAQ: CG) today announced that it has led a $55 million Series B investment round in Hack The Box, a rapidly growing continuous improvement cybersecurity and talent assessment platform.

Founded in 2017 and headquartered in Kent, UK, Hack The Box has built a global community of more than 1.7 million platform members and established a portfolio of more than 1,500 enterprise, government and university clients using their platform to take their cybersecurity skills theirs to the next level. Chief Information Security Officers and other senior cybersecurity decision makers are increasingly turning to Hack The Box to assess how secure their organizations appear from an attacker’s perspective and address the weakest link in cyber – the human element – ​​through a performance-driven and thus highly transparent evaluation of internal and external cyber talent.

The new investment aims to accelerate Hack The Box’s growth trajectory with a focus on further developing its category-defining “gamer-first” solution offering with ultra-realistic coding gameplay. The company will also strengthen its go-to-market function, and double down on the company’s ongoing international expansion with strong commercial traction in the US, Europe and APAC.

“Our mission is to create and connect cyber-ready people and organizations through highly engaging hacking experiences that cultivate out-of-the-box thinking. The game in cyber has changed with defensive, reactive and recovery postures not fit for purpose. In the face of a ever-increasing and ever-evolving wave of sophisticated attacks. A new proactive offensive and defensive approach is needed to take the fight to cybercriminals rather than waiting to be hit. From individual security professionals to companies, this means adopting a “hacker- mindset”, learning to think and act like an attacker. This is the kind of mindset that we cultivate through Hack The Box,” said Haris Pylarinos, founder and CEO of Hack The Box.

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Constantin Boye, director in the advisory team of Carlyle Europe Technology Partners (“CETP”), said: “The demands on security and IT professionals have never been greater. Talent shortages across the industry and an exponentially increasing number of cyber threats pose a major importance to professionals and organizations to maintain best-in-class security practices We believe that Hack The Box is a pioneer in constantly providing fresh and curated training and upskilling content, in a fully gamified and intuitive environment, that enables individuals and organizations to tackle real – the world’s hacking problems. We are excited for the next phase of Hack The Box’s development and are proud to be a part of this journey.”

Carlyle has extensive experience in infrastructure software and cybersecurity investments, including at 1E, Eggplant, ManTech, Coalfire, iC Consult, NetMotion, ITRS, Booz Allen Hamilton and Automic Software (formerly known as UC4).

It’s been a busy few months for the CETP team, who recently announced investments in ETC Group, Incubeta and Tescan.


About Hack The Box:

Hack The Box is a leading online gamified cybersecurity upgrade and talent assessment platform that allows individuals, businesses, government organizations and universities to increase their security skills. Since launching in 2017, Hack The Box has amassed a global community of more than 1.7 million platform members, and has built a portfolio of more than 1,500 enterprise, government, and university customers using Hack The Box’s hands-on, self-paced, and gamified learning environment to take their cyber security skills to the next level. Our mission is to create and connect cyber-savvy people and organizations through highly engaging hacking experiences that cultivate out-of-the-box thinking. With constantly updated virtual labs, simulation of real-world scenarios, CTF-style challenges and multiplayer hacking games, Hack The Box is the reference point for all cyber security professionals. With a rapidly growing footprint worldwide, Hack The Box’s headquarters are located in the UK with additional offices in Greece and the US.

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For more information, please visit

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $369 billion under management as of September 30, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of the investors, portfolio companies and communities in which we live and invest. Carlyle employs more than 2,100 people in 29 offices on five continents.

Additional information is available at Follow Carlyle on Twitter @OneCarlyle.

Media contacts


Nicholas Brown

[email protected]

+44 7471 037 002

Hack The Box:

Sofia Vourlaki

[email protected]

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