SimSpace Raises $45 Million in Funding Led by L2 Point Management for Cybersecurity Expansion

SimSpace completes a $45 million funding round led by L2 Point Management, reaching a total capital inflow of $70 million. The cybersecurity firm focuses on high-end solutions, offering training and stress-testing capabilities for government and Fortune 2000 clients. As cyberattack costs are projected to hit $9.5 trillion by 2024, SimSpace plays a crucial role in global defense against cyber threats. The funding will accelerate customer acquisition and support international market entry.

CEO William "Hutch" Hutchison highlights SimSpace's technology, aiding national infrastructure and financial institutions in recovering from cyber disasters. With almost a decade of success, SimSpace addresses the need for robust cybersecurity in large enterprises. The $45 million investment from L2 Point Management positions SimSpace to expand its global presence and enhance its cybersecurity capabilities.