Cyber security firm Immersive Labs raises $66m in latest funding round


Bristol-based cyber-security firm Immersive Labs has raised $66m (£59.7m) in its latest funding round.

The company, which counts corporate giants such as HSBC, Citi, Pfizer and Daimler among its customer base, said it would use the capital to continue its growth and investment in its Cyber Workforce Resilience platform.

Investment firm Ten Eleven Ventures led the raise, while existing investors – Goldman Sachs Asset Management, Summit Partners, Insight Partners, Menlo Ventures and Citi Ventures – all participated.

Immersive Labs has also announced a number of new appointments to its executive leadership team. Sandra McDevitt has taken up the role of chief human resources officer while Lucian Lui has joined as chief marketing officer.

Ten Eleven general partner and Darktrace founder and former chief product officer Dave Palmer will also join the company’s board and Jack Huffard, Tenable co-founder and current non-executive director of Immersive, has become the board’s chair.

“Attracting new investment during a difficult time overall for the tech sector underscores the incredible demand for Immersive Labs’ disruptive, people-centric approach to cybersecurity,” said James Hadley, founder and chief executive of Immersive Labs.

“Proving cyber resilience has increasingly become a board and C-level consideration. Our customers rely on us because we offer a trusted and effective approach to upskilling and measuring team and individual cyber defence capabilities.”

In May, Immersive Labs unveiled its new headquarters in Bristol. The business has taken the entire sixth floor (16,000 sq ft) of The Programme building on All Saint’s Street. It was previously based at Runway East in the city.

“As we see more focus on proving cyber resilience across public and private sectors, Immersive Labs stands to play a key role in the future of cybersecurity,” added Mr Palmer. “The company’s product innovation and strategic leadership hires further secure the company’s top position in the Cyber Workforce Resilience category.”

Last year, Immersive Labs secured $75m in a Series C funding round. The business said in 2021 it would use the cash to expand its international presence and triple its global headcount to 600 over the next two years.

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