Gamified continuous cybersecurity platform Hack The Box raises $55m


Hack The Box, a gamified continuous cybersecurity upskilling, certification and talent assessment platform, has raised $55m in its Series B.

The funding round was led by global investment giant Carlyle. Other contributions came from Paladin Capital Group, Osage University Partners, Marathon Venture Capital, Brighteye Ventures and Endeavor Catalyst Fund.

The gamified continuous cybersecurity platform hopes the Series B will bolster its growth trajectory. It plans to deepen its suite of “gamer-first” solutions offering.

Funds will also help the CyberTech company continue its international expansion efforts, with focus placed on the US, Europe and APAC.

Chief information security officers and other senior cybersecurity decision-makers are using Hack The Box to assess how secure their organisations look from an attacker’s perspective. They also use the platform to improve their human defence element through a performance-driven training.

The CyberTech company claims to have tripled in size over the past two years and has a global hacking community of over 1.7 million members.

Its platform, which launched in 2017, is an online cybersecurity training platform that offers virtual hacking labs to cover all skills. It also boasts hands-on penetration testing and scenarios that mimic real-world threats.

Its gamified elements include scoreboards, multiplayer battles, ranks and more. One example of a game-based cybersecurity session is capture the flag. In the game, two teams go against each other to solve the most number of challenges, for each one completed they will earn a flag.

Hack The Box founder and CEO Haris Pylarinos said, “Our mission is to create and connect cyber-ready humans and organisations 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 being fit-for-purpose in the face of an ever-increasing and ever-evolving wave of sophisticated attacks.

“A new proactive offensive & 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.”

With the close of the round, the gamified continuous cybersecurity company has raised a total of $70m in funding.

The CyberTech company previously raised $10.6m in its Series A funding round in April 2021.

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