CybExer Technologies raised €5 million funding

Ellex in Estonia advised CybExer Technologies on a €5 million funding to expand global operations and tackle global cyber security skills gap.

Estonia-based cyber range company CybExer Technologies has raised a €5 million funding to meet market demand and expand its global operations to tackle global cyber security skills gap and the explosive growth in increasingly sophisticated cyber-attacks. The round was led by Karma Ventures who were joined by First Fellow Partners, Specialist VC and select angel investors with deep cyber security industry experience.

Andrus Kivisaar, CEO of CybExer said: “We believe that our technology clearly meets the current market demand. With such features as on-demand library, operational technology, and visualisation tools, our platform is very well positioned to respond to customer needs. Now, we are excited to bring on board a group of investors whose expertise in cyber security and operational scale-up will be an enormous catalyst for growth.”

Founding Partner Gerri Kodres of Specialist VC, an early investor in the newest Estonian unicorn Veriff, and with stakes in Bolt, Monese, Starship said: “We are looking forward to contributing to getting the product out to more customers and helping CybExer grow and maintain its glogal leadership in cyber range technology.”

The platform is planning to significantly bolster its team in development, customer success and sales organisation and expand its global presence.

Ellex team in Estonia who advised CybExer Techonologies on the funding round included Counsels Antti Perli and Rudy Rimal.

Read more HERE.