International law firm Bird & Bird has advised Immersive Labs, the provider of an innovative cyber security skills platform, on its recent $40 million Series B funding round. The round was led by global growth equity investor Summit Partners, with participation from existing investor Goldman Sachs.
Immersive Labs, led by CEO and former GCHQ cyber security instructor James Hadley, helps corporate employees learn new skills by using threat intelligence in a gamified way, using a variety of techniques and psychology to help users better understand cyber security threats. The investment will enable them to continue to innovate their platform and create gamified learning experiences for everyone and accelerate their expansion in North America.
The transaction builds on Bird & Bird's reputation as one of the leading advisers to companies and investors in the venture capital ecosystem. The firm is ranked in "Tier One" for venture capital work in the Legal 500 directory. This transaction also builds on a number of high profile transactions the firm has acted on in the cyber security space, including F-Secure's acquisition of MWR InfoSecurity, for which Bird & Bird was nominated for "M&A Team of the Year" at the British Legal Awards 2018.
The Bird & Bird team was led by venture capital partner Struan Penwarden (Corporate, London) and senior associate Richard Bloomfield (Corporate, London).
James Hadley, Founder and CEO at Immersive Labs says: "We worked with the Bird & Bird team during our previous fundraise and for this latest Series B round, which is a real landmark moment for Immersive Labs. Struan and Richard are trusted advisors who provide clear and commercial advice and their insightful knowledge and technical expertise has been instrumental in supporting us on our investment journey."
Struan Penwarden, partner at Bird & Bird says: "This latest funding round by Immersive Labs builds on the significant progress the company has made since its $8 million Series A round in 2018, which Bird & Bird also advised on. We are delighted and proud to advise and support such an impressive and exciting company and very much look forward to continuing to be part of their team to help them achieve their strategic goals as they continue to expand in North America."