IBL News | New York
Cybrary, a web training platform used by nearly 3 million cybersecurity and IT professionals, closed this Wednesday on a $15 million Series B funding round.
Austin, Texas-based BuildGroup led the funding. Existing investors including Arthur Ventures and Gula Tech Adventures also participated in the round. The round brings the Cybrary’s total capital raised to $23 million.
Investor BuildGroup highlighted that Cybrary “is solving critical business problems with modern business models powered by network effects”.
Founded in 2015, and currently, with a staff of the 60-person, the College Park, Maryland-based company hosts cybersecurity training content, allowing individuals and enterprises to close cybersecurity skills gaps and follow career paths. The Cybrary platform provides mostly video-based training and hands-on technical assessments.
“We have assembled the world’s largest cybersecurity career development network, powered by the industry’s largest network of industry subject matter expert creators,” Ryan Corey, Co-Founder at Cybrary, said. He plans to use the new round toward hiring content creators, subject matter experts, and more employees (including doubling the number of engineers on staff to 24).
The free version of Cybrary comes with introductory courses, syllabi, assessments, and a live chat to help users. A premium license, which costs $99 per month, gives access to the entire course catalog, live online training, practice exams, scenario-based virtual labs, and a mentor network.
With a network of 1,700 mentors, the company offers a service to train teams of employees for businesses. Cybrary is not currently profitable.