Cyberbit Ltd, a subsidiary of Elbit Systems Ltd and a global provider of cyber range training and simulations platforms, has now secured an investment of $70 million from CharlesBank technology Opportunities Fund.
The deal is a combination of both the primary investment and a secondary purchase from Elbit Systems Ltd. Some of the existing investors, Claridge Israel, also participated in the funding round.
Rakesh Kharwal, MD-India, Cyberbit, said,
“Along with the global expansion, this funding will also be leveraged to accelerate sales and marketing in India, to increase our existing reach within the financial and enterprise sector, and particularly to penetrate the higher education sector in India, where we’ve seen great success globally, by helping colleges and universities launch hands-on cybersecurity programmes based on cyber-range simulation.”
Adi Dar, CEO of Cyberbit, added,
“The investment from Charlesbank will allow us to solidify our position as a best-of-breed product and allow us to accelerate our global expansion.”
