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Cyberbit Secures $30 Million Investment From Claridge Israel

Cyberbit Secures $30 Million Investment From Claridge Israel
Credit: cyberbit.com

Elbit Systems Ltd. subsidiary Cyberbit Ltd., a provider of cyber range training and simulation platforms, as well as IT/OT threat detection and security orchestration, announced a $30 million investment from Claridge Israel to accelerate growth and accommodate demand for its security portfolio.

Cyberbit’s approach of using hyper-realistic simulation to train and assess cybersecurity experts is now widely adopted by the industry to cope with the global cybersecurity skill shortage. This shortage is predicted to exceed 3.5 million job openings by 2021 and is amplified by increased workload and complex, time-sensitive threats. In the past year, Cyberbit launched 30 cyber range classes and opened dozens of cyber ranges with managed security service providers, universities, and enterprises worldwide.

Cyberbit plans to use the funding to expand sales and marketing, primarily in North America, boost product development, and enhance customer and partner support.