Immersive Labs, which helps corporate employees learn security skills in a gamified way, raises $40M Series B led by Summit Partners
Immersive Labs, a cybersecurity skills platform, has raised $40 million in its Series B, the company's second round of funding this year following an $8 million Series A in January.
Context & Ripple Effects
At $8 million in January and now $40 million more, Immersive Labs has doubled its funding twice inside one year — a pace that only makes sense because corporate buyers are treating employee security skills as a recurring software purchase rather than annual compliance training. The bet paid off on the capital side: Insight Partners later led a $75M Series C that brought the company's total raised to $123M.
The round also sits at the front of a cluster: within weeks Goldman Sachs led a $47.6M raise for Secure Code Warrior, another gamified security-training vendor aimed specifically at developers, signaling that investors saw the category as big enough to back two adjacent players at once.
First-order effects
- Immersive Labs gets the capital to scale its gamified skills platform beyond its existing corporate customer base, with Summit Partners taking a board-level stake in the fastest-growing segment of its market.
- Corporate security teams buying skills training gain a funded, scaling vendor whose cadence — two rounds in eleven months — lets it expand content faster than bootstrapped competitors.
Second-order effects
- Secure Code Warrior's developer-focused round a month later forces both companies to differentiate: Immersive Labs pushes breadth across all employees while Secure Code Warrior doubles down on secure-coding depth.
- Traditional security-awareness training vendors face pricing pressure as CISOs reallocate budget from checkbox compliance courses to measurable, gamified skill-building platforms.
Third-order effects
- Capital kept flowing into simulated human-risk training well past this round — SimSpace raised $45M in 2023 for full tech-stack replication, and Adaptive Security's $81M Series B extended the model to AI-driven social engineering — pointing to a security market where workforce simulation becomes a standing budget line alongside tools.
- If that pattern holds, the industry's center of gravity shifts from selling defenses against attackers to continuously rehearsing attacks on one's own staff, with procurement consolidating around a few scaled simulation platforms.
The trend: Security spending is migrating from static awareness training toward funded, gamified workforce-simulation platforms, a wave that runs from Immersive Labs' 2019 Series B through today's AI-driven attack simulators.