RangeForce, a seven-year-old cybersecurity startup founded in Estonia with significant operations in the United States, has raised $18.5 million in funding from undisclosed investors, as reported by CityBiz. The round was closed in December 2022.
RangeForce is developing a cloud-based cybersecurity training platform for enterprise IT and cybersecurity teams. It has raised a total of $36.5 million from investors such as Paladin Capital Group, Energy Impact Partners, and Trind Ventures. Its previous round of $16M happened in August 2020.
Preparing businesses for modern dangers
„One of the toughest challenges facing enterprise defenders is that they’ve been expected to use highly complex security tools while their organisations are under attack, without ever learning and practising how to use them effectively together“ noted Taavi Must, the CEO of RangeForce, at the time of the last round.
RangeForce’s problem-based learning training approach provides cybersecurity professionals with hands-on experience through cloud-based simulations. These simulations provide a real-time setting that has proven to be the most effective method of cybersecurity training at scale.
The average time it takes to identify and contain a data breach is 280 days, according to the IBM Cost of a Data Breach Report 2021. In response, security executives have said that their top priority is to be better prepared for unexpected security incidents.
The RangeForce platform equips teams with hands-on threat scenarios and real-world security solutions, allowing organisations to quickly and measurably improve their cybersecurity skills. The platform includes interactive modules, threat exercises, and assessments presented in emulated enterprise environments populated with real security solutions, allowing companies to verify their defence readiness and build foundational security capabilities.
For security leaders, the RangeForce platform offers reporting and administration capabilities to help upskill team members for current and new roles, establish standards for hiring and advancement, and measure an organisation’s level of cyber defence readiness. Managers can create and track learner-specific goals, build custom learning paths tailored to their team, view learner activity and platform engagement, and identify skills gaps.
The startup was founded in 2015 by Taavi Must, Jaanus Kink, and Margus Ernits and was inspired by NATO’s framework. RangeForce’s CEO, Taavi Must, has emphasised that traditional classroom-based training models are no longer effective in providing actionable skills required to defend against cyber threats.
RangeForce’s customer base spans various industries and firm sizes as demand for cybersecurity training continues to rise. The startup counts Microsoft, Barclays, and Santander among its customers. It has an HQ in Virginia, US, and offices in Tallinn and London.
“I would recommend considering establishing research and development units in Estonia as well,” Must said in the latest interview to Invest Estonia. “RangeForce is proof that success is not solely reliant on engineering or operating, but rather a unique network of scientists, engineers and businessmen who help you create something completely new.”
The new investment will help RangeForce expand its offerings and continue to address the shortage of skilled cybersecurity professionals.