Technology start-ups have been in unclear waters of late. The boom of the pandemic has tapered off as a recession looms on the horizon, and many companies are seeing valuations decline.
One company that isn’t facing the slump of its peers is Cybrary. The company was launched in 2015 by Ralph Sita and Ryan Corey with a simple goal, to remove blockers of education in the cybersecurity industry.
The platform offers e-learning courses for what it claims to be a cheaper price than most competitors. The company offers a certified course with practice assessments for under $60.
So far, the company has managed to attract more than 742 companies and has an accumulative 3.4 million users.
On the back of this impressive achievement, the learning and development (L&D) tool has raised $25 million in a Series C round led by BuildGroup and Gula Tech Adventure. This brings the total raised by the company to $48 million.
Discussing the appeal of Cybrary, the company’s CEO, Kevin Hanes, told TechCrunch: “There are an estimated 3.5 million unfilled cybersecurity roles today. Studies suggest the global cybersecurity workforce needs to grow 65% to effectively defend organizations’ critical assets.
He added: “Introducing more products and technology will not help organizations solve this fundamental issue.”
“Investing in people is key to narrowing the cybersecurity skills gap and helping to combat increasing burnout and human error.
“Cybersecurity professionals at every stage of their careers need an affordable and accessible training platform to arm them with the skills and confidence to respond to threats.
What’s next for Cybrary?
The company has moved from just helping people enter cybersecurity roles, and has invested in helping users develop their careers.
This will undoubtedly be an area where the company continues to invest as it improves its longevity and sticking power in businesses.
What’s more, Hanes noted that Cybrary has attracted attention from the US government and military organizations.
Reflecting on the success of Cybrary and where investment may be made, Hanes said: “Ramping up our in-house cybersecurity expertise has enabled us to create a new style of training that is focused on hands-on skills and understanding real-world threats and vulnerabilities, and how to ensure your organization is protected.
“While Cybrary has historically been focused on helping people enter the workforce and earn their fundamental certifications, [recent] additions to our platform allow us to support these individuals in their journey long after they land their first role.”
Speaking about the investment, Jim Curry, co-founder and managing partner at BuildGroup commented: “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.”
The future looks bright for Cybrary as it aims to make entry into a career in cybersecurity an option for everyone.
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