SimSpace, a cybersecurity company specialising in realistic and intelligent cyber ranges, has secured $39m in new funding to strengthen its mission of helping organisations outsmart evolving cyber threats.
The latest investment combines debt and equity and includes participation from new backers BTG Pactual U.S. Private Credit Investments and Communitas Capital, alongside existing investor L2 Point Management. The backing signals strong market confidence in SimSpace’s ability to deliver advanced cyber preparedness solutions.
Founded in 2015 by experts from US Cyber Command and MIT Lincoln Laboratory, SimSpace provides AI-powered, realistic cyber ranges—digital replicas of customer environments that enable continuous training and validation of security systems. These “cyber sandboxes” allow teams to rehearse against live-fire attacks, test AI models, validate tools, and improve detection engineering—all within secure, emulated networks.
The new capital will be used to accelerate SimSpace’s global expansion, develop new use cases, and enhance support for clients across federal, state, and local governments, as well as large universities and Fortune 100 firms. The company’s ongoing innovation aims to ensure security teams can safely test both human and AI-driven defences in real-world conditions.
SimSpace CEO Peter Lee said, “The cybersecurity landscape has shifted radically as adversaries are weaponizing agentic AI to perform increasingly sophisticated attacks. Relying on annual capture-the-flags and traditional compliance courses to train and certify your security teams is nowhere near enough. It’s time to prepare teams in a realistic, intelligent cyber range where they can test their preparedness against live-fire attacks and validate their agentic workflows.”
Communitas Capital co-founder and general partner Tom Glocer said, “SimSpace is operating at the frontier of cyber defense innovation. The company’s realistic cyber ranges and AI-driven training match the urgency of the threat landscape we face today. I believe the company will redefine how organizations prepare for adversaries as its focus on validation under real-world conditions give organizations the confidence to deploy agentic AI safely and effectively.”
BTG Pactual Global Alternatives head of U.S. Private Credit Investments Thomas J. Steiglehner said, “BTG Pactual Private Credit invests in businesses that are shaping industries and solving pressing challenges. With its cutting-edge cyber range platform, SimSpace addresses the evolving threats in cybersecurity and equips organizations with the scalability and realism they’ve likely never had before. We believe in SimSpace’s vision and are proud to support their journey toward elevating global cyber readiness.”
SimSpace’s cyber range has been shown to deliver measurable results, including a 30% reduction in cyber operational costs, a 45% improvement in defence against attacks, and a 48% faster time to detect breaches.
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