Ellex has advised CybExer Technologies on its EUR 5 million funding round.
Founded in 2016, CybExer Technologies is a Tallinn-headquartered cybersecurity company. The company has experience in providing and maintaining highly sophisticated cyber security training platforms with a focus on cyber capability development.
According to the firm, the round was led by Karma Ventures who were joined by First Fellow Partners, Specialist VC, and select angel investors with deep cyber security industry experience. The funding will be used to "expand global operations and tackle the global cyber security skills gap," Ellex informed. "The platform is planning to significantly bolster its team in the development, customer success, and sales organization and expand its global presence."
"We believe that our technology clearly meets the current market demand," CybExer CEO Andrus Kivisaar commented. "With such features as an on-demand library, operational technology, and visualization tools, our platform is very well positioned to respond to customer needs. Now, we are excited to bring on board a group of investors whose expertise in cyber security and operational scale-up will be an enormous catalyst for growth."
The Ellex team included Counsels Antti Perli and Rudy Rimal.
Ellex did not respond to our inquiry on the matter.