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International Internet Magazine. Baltic States news & analytics Saturday, 08.08.2020, 09:44

Estonian-US startup RangeForce raises EUR 13.6 mln

BC, Tallinn, 29.07.2020.Print version
Estonian-US startup RangeForce, which helps businesses develop cybersecurity teams, has raised 16 million US dollars (EUR 13.6 mln) from investors, Postimees reported on July 28th, reports LETA/BNS.

The Series A round is led by Energy Impact Partners. Paladin Capital Group continues its longstanding support of RangeForce as part of this round, and the investment round also includes existing firm Trind VC as well as a new investment from Cisco Investments.

With global headquarters in Virginia and roots in building the cyber range for NATO's Cooperative Cyber Defense Center of Excellence in Tallinn, RangeForce solves an important problem for global enterprises -- how to put a remotely accessible training program in place that can assess, train, and continually upskill cyber professionals, the company said in a press release.

The RangeForce cloud platform enables teams to learn by defending against real attacks in a hands-on, engaging, and competitive environment, a scalable and cost-effective alternative to traditional cyber ranges. With the RangeForce CyberSkills platform, enterprise defenders can continuously practice how to handle cyberattacks, ensuring that all team members see what a malicious attack vector looks like in a benign environment before experiencing it for the first time.

RangeForce's CyberSkills Platform provides customers with prescriptive, individualized learning paths with hundreds of real-world training modules so that security, DevOps, web application engineers, and industrial control teams can quickly upskill and cross-train team members, provide custom reports to management, and orchestrate incident detection and response across multiple vendor tools. 

RangeForce has experienced rapid growth since its launch, with a 2,700 percent year-over-year increase in annual recurring revenues. The company plans to build on its momentum from its headquarters in the Washington, D.C. area. More than 100 organizations are already experiencing the benefits of the RangeForce platform, including some of the world’s largest organizations across financial services, technology, government, retail, telecom, and healthcare.

The lead investor in the Series A round for RangeForce, Energy Impact Partners (EIP), is a global platform investing in the transition to a sustainable energy future. With over 1.5 billion US dollars in assets under management, EIP invests globally across venture, growth, credit and infrastructure.

Paladin Capital Group, founded in 2001, is a multi-stage investor that focuses on companies with technologies, products, and services that meet the challenging global cyber security and digital infrastructure resilience needs for commercial and government customers. Paladin has over one  billion US dollars in committed capital across multiple funds. 

The founders of RangeForce are Estonians Jaanus Kink, Margus Ernits and Taavi Must.

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