Estonian SaaS cybersecurity platform Rangeforce raised about €17M

Upd: RangeForce announced the completion of its series-B round. The total amount of raised investments is $20M. Also, the names of investors are disclosed. The round was led by US investment platform Energy Impact Partners and cyber and deep tech investor Paladin Capital Group. KPN Ventures (venture capital investment arm of Netherlands’ leading telecom & ICT service provider KPN), New-York investment firm Lapa Capital Partners, Brazilian firm Lanx Capital, and Cisco Investments (corporate development and venture capital arm of digital communications technology company Cisco) also participated in this round.

Estonian SaaS cybersecurity platform Rangeforce, which helps companies to develop cybersecurity skills through team-based exercises, has raised about €17M. The round was closed in December 2022.

The names of investors are not announced. The company will use the new funding for further development of its platform.

Rangeforce was founded in 2019. It has offices in Tallinn, London and Norfolk (US). The CEO and co-founder of the company is Taavi Must.

According to the company, its advantage is in offering customers the experience of a realistic cyberattack threat. Thus, the corporate teams learn to defend themselves in cyber warfare during real-time simulation.

In 2019 and 2020, the startup secured financing from the Estonian fund Trind Ventures. Among other former backers are the US investment companies Paladin Venture Capital, Cisco Investments (venture capital arm of Cisco), and Energy Impact Partners.