https://techcrunch.com/2023/01/11/hack-the-box-a-gamified-cybersecurity-training-platform-with-1-7m-users-raises-55m/

There’s long existed a divide in the world of computer hacking between those who are taking a malicious approach to crack a system, and those who are using the same techniques to understand the system’s vulnerabilities, help fix them, and at the same time to fight against the malicious actors. Today, Hack the Box, one of the startups that’s built a platform to help cultivate more of the latter group with a gamified approach, is announcing $55 million in funding to expand its business after racking up 1.7 million users.

The funding is being led by Carlyle, with Paladin Capital Group, Osage University Partners, Marathon Venture Capital, Brighteye Ventures, and Endeavor Catalyst Fund also participating. The UK startup is not disclosing valuation at the moment. But for some context, according to PitchBook, the startup, based out of England but with offices in New York and with founding roots out of Greece — where it also has an office — had raised just over $24 million since being founded in 2017 (with about $15 million of that in equity: the company says it’s now raised about $70 million). Its last valuation, previously updated in 2021 after it raised $10.6 million, was a very modest $52 million.