Cybrary raises $25M in a Series C funding round (Image Credit: Pepi Stojanovski on Unsplash)Cybrary has secured $25M in Series C funding taking its total funding to date to $48M. This is the first time it has sought funding in over two years. It last raised $15M in a Series B funding round. Two of those investors – BuildGroup and Gula Tech Adventures – have come back for more.

The company has also announced a new addition to its board. Kevin Mandia, CEO of Mandiant. It’s the latest of a string of changes to the senior management at Cybrary over the last year. In June 2021, it appointed Kevin Hanes as CEO.

In March this year it made four new executive appointments. Rob Usey became Chief Technology Officer (CTO) and Charlie Booth is Chief Financial Officer (CFO). Mary Fad was appointed Vice President of Marketing, and Tonya Butler as Vice President of People. May 2022 saw another two appointments. David Maynor is now the CTIG and Chloé Messdaghi is the Chief Impact Officer in May.

These changes give Hanes one of the strongest executive teams he could have wished for. What everyone is now waiting for, is to see what and how they deliver.

Jim Curry, Co-Founder and Managing Partner at BuildGroup
Jim Curry, Co-Founder and Managing Partner at BuildGroup

Jim Curry, Co-Founder and Managing Partner at BuildGroup said, “Our continued investment in Cybrary is a testament to our belief in the important work they’re doing to address the current cyber skills gap and how they plan to evolve their training programs in the future.

“We can’t wait to see what this next chapter holds for Cybrary and fully support Kevin and his team every step along the way.”

Cybrary investing in R&D and Threat Intelligence

So where is the money going to be spent? That’s a good question and it shows the direction the company is evolving into. According to the press release, the monies “will be used to support additional company growth by bolstering research and development (R&D) across its engineering, product, and marketing teams as well as continuing to grow the new CybraryThreat Intelligence Group (CTIG).

Investing in R&D is a given for any organisation but it never hurts to say it when raising money. It also makes sense to expand the course library. There is a huge demand for cybersecurity training and the company has already built itself a strong reputation for its existing training.

One thing that will be watched is how it expands its sales and marketing. There are a lot of companies in the cybersecurity training space competing for the limited training funds available. The question is where will Cybrary focus? Will it look to open offices in different countries to support its sales and marketing?

The other area that is getting some of the funds is the CTIG. That is a much more interesting investment. It shows that the company sees a lot of value beyond just being a training provider. It also opens up a wider opportunity for the company as it goes forward.

Enterprise Times: What does this mean

Inbound investments are almost always a signal of belief by investors. In this case, the gap between funding rounds shows that the company is doing well with its cash flow. The acceleration of the business, especially with all the recent new hires also shows it is starting a new phase of growth. It is a phase that both Cybrary and its investors hope will pay off quickly.


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