TALLINN, February 15, 2022 – LionCliff Capital, the Nordic investment banking firm, is delighted to have advised the financing of CybExer Technologies, a NATO-awarded cyber range company.

CybExer Technologies, a NATO-awarded cyber range company with global customers spanning international defence organisations, financial institutions, and critical infrastructure enterprises, raised EUR 5 mln funding round to meet market demand and expand its global operations in the face of a global cyber security skills gap and the explosive growth in increasingly sophisticated cyber-attacks.

The investment round was led by Karma Ventures, and joined by First Fellow Partners, Specialist VC and select angel investors with deep cyber security industry experience. “We see cyber security as a fast-growing field, and are excited partner with a global deep-tech company that brings onto the world stage an innovation which makes tackling growing cyber threat easier. We are very impressed by the current first-rate client portfolio and overall strong performance of CybExer in the dynamic and rapidly evolving cyber range market. The company has already proven itself as a best-in-class cyber range solutions provider for top-tier customers. With this additional investment, we want to increase its market share and help make this cutting-edge technology accessible to a wider customer base globally,” said Margus Uudam, Founding Partner of Karma Ventures.

Andrus Kivisaar, CybExer CEO, says: “We believe that our technology clearly meets the current market demand. With such features as on-demand library, operational technology, and visualisation tools, our platform is very well positioned to respond to customer needs. Now, we are excited to bring on board a group of investors whose expertise in cyber security and operational scale-up will be an enormous catalyst for growth.”

The first investment round is also joined by First Fellow Partners, a fund led by Risto Siilasmaa, the former Chairman of Nokia, Founder of F-Secure. According to Siilasmaa, “there is no question that cyber range technology will play an important role in building cyber resilience globally and we want to be there when it happens. We have been very impressed by both the team and the technology. We believe that CybExer’s goals in further developing its solution and increasing its market share are realistic and achievable.”

CybExer is planning to significantly bolster its team in development, customer success and sales organization. The company will also expand its global presence.

CybExer Technologies was advised by LionCliff Capital and Ellex.

LionCliff Capital is a Nordic investment banking firm that provides advice and services to help clients with mergers & acquisitions (M&A), financing and other transactions. LionCliff Capital provides financial services to diversified client base that includes large corporations and emerging companies, government agencies, institutional investors and individuals. LionCliff Capital acts for clients throughout the Nordics and Baltics from its hubs in Stockholm, Tallinn, Riga and Vilnius.

Further information:

Mihkel Piirsoo

Co-Founder and Partner

Tel: +372 56 800 421