Hack The Box Raises $55M to Expand Business
Hack The Box announces a $55 million Series B investment round led by Carlyle, along with Paladin Capital Group, Osage University Partners, Marathon Venture Capital, Brighteye Ventures and Endeavor Catalyst Fund.
The new investment will accelerate Hack The Box’s growth trajectory with a focus on further developing its category-defining offering of “gamer-first” solutions. Hack The Box will also enhance its go-to-market capability, doubling down on the company’s ongoing international expansion with strong commercial traction in the US, Europe and APAC.
Hack The Box has continued to attract significant funding interest due to its highly engaging adversarial cyber upgrading and reskilling solutions powered by ultra-realistic coding gameplay thereby effectively advancing the security readiness of Hack The Box’s growing number of blue-chip enterprise and government clients.
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.
Hack The Box has tripled in size in the last two years and has the largest global hacker community with more than 1.7 million platform members. With its thriving community at the heart of the company, Hack The Box will continue to invest heavily in R&D.
The company will drive towards a product roadmap that includes premium content releases and cutting-edge features, making Hack The Box the ultimate point of reference for cybersecurity professionals of all backgrounds, skill levels and industries to keep pace with the rapidly evolving cyber world. technology and threat landscape.
Hack The Box offers a 360° platform that not only enables individuals, businesses, public institutions and universities to increase their offensive and defensive security skills, but also provides access to job opportunities in cyber security, thereby addressing the industry’s severe talent shortage. Hack The Box offers thought-provoking, practical and highly entertaining learning content that mimics real-world threat scenarios and incorporates the latest up-to-date attack techniques and methods, setting new standards in cyber security expertise.
“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,” said Haris Pylarinos, CEO of Hack The Box.
“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 we cultivate through Hack The Box, Pylarinos added.
Constantin Boye, director at Carlyle, comments: “The demands on security and IT professionals have never been greater. An industry-wide talent shortage and an exponentially increasing number of cyber threats place a high priority on professionals and organizations maintaining best-in-class security practices. Hack The Box is a pioneer in terms of constantly providing fresh and curated training and upgrading content in a fully gamified and intuitive environment, enabling individuals and organizations to tackle real-world hacking challenges.We are excited for the next phase of Hack The Box’s development and are proud to be part of this journey.”
Gibb Witham, SVP of Paladin Capital Group, added: “With a vibrant community of 1.7 million registered security professionals and enthusiasts, Hack The Box is setting the bar for a new generation of product-led growth companies in the cybersecurity industry. We are thrilled to see Hack The Box become an essential partner for businesses and governments in creating security teams prepared for cyber attacks.”
This Series B funding brings Hack The Box’s total capital raising to date to $70 million, and strengthens the company’s position within the global cybersecurity ecosystem.