Hack The Box announces a Series A investment round of $10.6 million led by Paladin Capital Group and joined by Osage University Partners, Brighteye Ventures, and existing investors Marathon Venture Capital, said the company.
The round will support the company’s growth as it establishes its presence in the US market and further expands its product portfolio for both individuals and businesses.
Founded in 2017, players on its platform are challenged to learn by doing by “attacking” virtual vulnerable labs and advance their adversarial security skills in a simulated, gamified, and safe test environment.
Hack The Box said to JMD that it is using a SaaS business model. In the B2C market, it provides monthly and annual subscriptions that provide unrestricted access to training content. In the B2B market, it provides bi-annual and annual licenses which provide access to dedicated adversarial training environments with value-added admin capabilities.
More than 800 organizations and 550 academic institutions from all around the world have joined the platform to level up their adversarial capabilities.
Today, Hack The Box said it has the world’s largest ethical hacker community with over 500,000 platform members with diverse IT backgrounds, from beginners to experts.