SimSpace, a company specialising in realistic and intelligent cyber range simulations, has raised $39m in new funding to advance its mission of strengthening global cyber resilience.
The latest round comprises a mix of debt and equity financing from new investors BTG Pactual U.S. Private Credit Investments and Communitas Capital, alongside existing backer L2 Point Management. The investment reflects growing market confidence in SimSpace’s platform amid heightened demand for advanced cyber training and validation environments.
SimSpace develops realistic cyber ranges — digital replicas of enterprise systems — that allow organisations to test, train, and validate their defences under simulated attack conditions. The company’s intelligent environments, often compared to digital twins or reinforcement learning simulations, are designed to prepare cybersecurity teams for the increasing sophistication of AI-powered threats.
The newly raised capital will be directed towards SimSpace’s continued global expansion, new use case development, and enhanced support for government agencies, universities, and large enterprises. Founded in 2015 by experts from US Cyber Command and MIT Lincoln Laboratory, the company plans to broaden its customer base across federal, state, and commercial sectors.
SimSpace’s cyber ranges enable continuous AI-driven training and validation across multiple use cases — from AI model testing and live-fire red team exercises to detection engineering and tool optimisation. This approach helps clients measure readiness and reduce risks, with reported improvements such as a 45% boost in defensive performance and nearly 50% faster breach detection.
SimSpace CEO Peter Lee said, “The cybersecurity landscape has shifted radically as adversaries are weaponizing agentic AI to perform increasingly sophisticated attacks. Relying on annual capture-the-flags and traditional compliance courses to train and certify your security teams is nowhere near enough. It’s time to prepare teams in a realistic, intelligent cyber range where they can test their preparedness against live-fire attacks and validate their agentic workflows.”
Communitas Capital co-founder and general partner Tom Glocer said, “SimSpace is operating at the frontier of cyber defense innovation. The company’s realistic cyber ranges and AI-driven training match the urgency of the threat landscape we face today. I believe the company will redefine how organizations prepare for adversaries as its focus on validation under real-world conditions give organizations the confidence to deploy agentic AI safely and effectively.”
BTG Pactual head of U.S. private credit investments Thomas J. Steiglehner said, “BTG Pactual Private Credit invests in businesses that are shaping industries and solving pressing challenges. With its cutting-edge cyber range platform, SimSpace addresses the evolving threats in cybersecurity and equips organizations with the scalability and realism they’ve likely never had before. We believe in SimSpace’s vision and are proud to support their journey toward elevating global cyber readiness.”
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