Immersive Labs Highlights Growth, Extends Access to Online Cyber Crisis Simulations

2020 ushered in record financing and year-over-year growth across channel, hiring and the global customer base as demand for cyber training grows amid the pandemic

BOSTON & BRISTOL, England--(BUSINESS WIRE)--2020 has created new challenges across the globe and the security industry is no exception. Immersive Labs, the company empowering organizations to equip, exercise, and evidence human cyber capabilities, has focused on providing solutions to companies and cyber academies during these times to ensure safe cyber activity. To date, it’s been a highly successful 2020 with key customer successes, customer and headcount growth, all of which was powered by industry leading product innovation.

The number of ransomware detections in business environments rose by 365% between Q2 2018 and Q2 2019, and global organizations have seen a 148% spike in ransomware attacks since the start of the COVID-19 pandemic. Immersive Labs is solving this industry-wide challenge of securing organizations and upskilling teams by providing them with the tools and crisis simulations employees need to fend off against current and future threats.

Key 2020 momentum data points include:

• Raised $40M in late 2019 to provide the liquidity to fuel our US and global expansion plan, bringing the total capital raise to date to $48M
• Historic three-year ARR CAGR > 350%
• Tripled employee headcount and customer base in two years and still hiring extensively and internationally for hypergrowth in the coming year.
• Grew ARR 15-fold and on track for >100% YoY in 2021
• Launched Channel Program with important distribution partners in the US, LATAM, and Middle East, which led to massive growth and opened access to new customers and opportunities
• Launched industry-first Cyber Crisis Simulator that allows people to continually test their organization’s reactions to the latest real-world attacks and is designed to be relevant to everyone from legal and communications teams, to cybersecurity specialists.

About Immersive Labs
Immersive Labs is empowering organizations to equip, exercise, and evidence human cyber capabilities. We provide metrics that give security leaders insight into human cyber skills and readiness levels across their organization and improve these through dynamic labs and crisis scenarios which track the threat landscape. Immersive Labs is backed by Goldman Sachs and Summit Partners and our customers include some of the largest companies in financial services, healthcare, and Government, amongst others. For more information on Immersive Labs’ offering, please visit www.immersivelabs.com.