RangeForce, an Estonian-born company providing cloud-based cybersecurity training, has raised a $16 million Series A round led by Energy Impact Partners, with participation from Paladin Capital Group, Trind and Cisco Investments. Just last year, the startup raised $1.5 million.
CEO Taavi Must explains that enterprise employees are often “expected to use highly complex security tools while their organizations are under attack, without ever learning and practicing how to use them effectively together. With hands-on, simulation-based cybersecurity training, we aim to strengthen enterprise defenders and their teams and make the security solutions they select even more effective.”
In a press release, the Baltic company reports a 2700 percent year-over-year increase in annual recurring revenues. With offices in Tallinn, London and the US (Virginia), it serves over 100 clients across financial services, technology, government, retail, telecom and healthcare.
The fresh funding will go to product development and new market expansion.
Photo: RangeForce team