Cybersecurity isn’t a spectator sport, it’s trench warfare fought in code, and SimSpace just raised $39M to make sure the right people know how to win. The Boston-based cyber powerhouse secured its latest round, part debt, part equity, from BTG Pactual U.S. Private Credit Investments and Communitas Capital, with continued backing from L2 Point Management. Founded in 2015 by William “Hutch” Hutchison and Lee Rossey, both veterans of U.S. Cyber Command and MIT Lincoln Lab, SimSpace went from bootstrapped to battle-tested, now arming global enterprises and national defense teams with military-grade cyber range training that hits harder than any conference keynote.
This isn’t your typical cybersecurity sandbox. The SimSpace Cyber Force Platform lets security teams simulate live fire attacks, compressing 3 years of chaos into a 24-hour training sprint. It’s the closest thing to a digital battlefield, replicating full production environments, complete with 25K live users and 400K+ endpoints. Four of the top five U.S. banks, the FBI, and U.S. Cyber Command all train here. Because when you’re defending against the invisible, realism is the only edge that matters. SimSpace doesn’t theorize about threats, it builds them, studies them, and turns them into readiness metrics that prove what your defenses can actually do.
Now with Peter Lee as CEO, formerly of RapidMiner and TIBCO Software, the company is leaning into enterprise growth and AI-driven innovation. Lee Rossey continues as CTO, joined by Clint Sand (CPO), Roger Blanchette (CFO), Bill Doyle (CRO), and Marci Niles (SVP of People). These aren’t corporate placeholders, they’re tacticians running ops for a global scale-up that’s already proven it can deliver. Investors like BTG Pactual’s Thomas Steiglehner, Communitas Capital’s Tom Glocer, and Arsenal Growth Equity’s Jason Rottenberg see the same thing: an AI-infused future where readiness beats reaction every time.
With total funding now over $109M, SimSpace is doubling down on expansion, pushing into markets like Japan and Eastern Europe, scaling AI validation tools, and training agents that can outthink AI-enabled threats. The platform’s customers already report 30% cuts in operational costs, 40% fewer patch-related breaches, and 45% stronger defense performance. Those aren’t vanity stats, they’re proof that the cyber range model works.
In a world sprinting toward $562B in cybersecurity spend by 2032, SimSpace isn’t chasing the noise, it’s tuning it. From military drills to Fortune 100 boardrooms, the company’s tech doesn’t predict the future. It prepares you to survive it. Because in the cyber arena, confidence isn’t a posture, it’s something you earn, one simulated breach at a time.
