Cybrary Raises $400K in Seed Funding, Tackles Cyber Security Skills Gap and Workforce ShortageFinancing Led By Inner Loop Capital and New Stack Ventures
Greenbelt, MD. – August 25, 2015 – Cybrary, the world’s first and only no-cost cyber security massive open online course (MOOC) provider, today announced that it has secured $400,000 in seed funding via Inner Loop Capital and New Stack Ventures. This round of seed funding will be used to increase Cybrary’s exposure, foster community growth, and develop additional course content.
Cybrary’s mission is to provide comprehensive IT and cyber security training options for underserved and disadvantaged people seeking to break into cyber security or move ahead in their current jobs. Launched in January 2015, Cybrary is growing at a record pace with more than 175,000 users from around the world registering with the MOOC provider in just six months. Over 84,000 people took free cyber security training courses at Cybrary in July alone.
“Our vision is to make Cybrary the largest and most influential online cyber security community. One that is fueled by free learning and a robust job and resume market for tackling the industry skills and talent gap,” said Ryan Corey, cofounder of Cybrary. “We want to foster a community where users can showcase their profiles, share their accomplishments, and contribute to the learning of others through free education.”
Justin Label is leading the investment on behalf of Inner Loop Capital, which is dedicated to making angel investments in early stage cyber security companies in the Baltimore-Washington corridor. Label is Inner Loop's principal investor and spent 15 years working with private companies as a venture capital investor and advisor, including 10 years at Bessemer Venture Partners in Silicon Valley, where he was involved with cyber security investments. At Bessemer, Label served on the board of Tripwire, Inc., a $100 million cyber security company based on the Tripwire open source code.
Nick Moran and Jeff Heitzman are leading the financing on behalf of New Stack Ventures, a Chicago-based angel syndicate. Moran runs the highly popular angel investing podcast, The Full Ratchet, which has featured many of the top names in startups and angel investing. New Stack Ventures, according to Heitzman, invests in companies that are positioned to fundamentally change existing markets or create new ones.
Over the last few months, Cybrary has launched several major initiatives designed to add talent to the cyber security workforce while also enabling cyber security professionals to accelerate in their careers. These initiatives include: pilot programs with Women in Technology (WiT) and Cornerstone which utilize Cybrary’s enterprise training platform to help advance women and girls in the cyber security industry; the creation of an educational training platform designed to help K-12 and higher education educators plan, manage, and monitor IT and cyber security curriculum; and the development of an enterprise security training platform to help organizations provide and manage cyber security courses and training programs for their employees, including end-user security awareness.
Recently, Cybrary was ranked #51 in a report of Top 100 brands in cyber security on social media. Cybrary currently offers the most in-demand, cutting-edge training courses in cyber security, with new courses launching monthly.
Founded in 2015, Cybrary gives aspiring and practicing cyber security professionals what they have long deserved and been denied: access to free, high-quality, open-source and results-focused IT and cyber security training that will help start and advance their careers. A MOOC provider whose top managers have nearly 15 years of experience in IT training, Cybrary offers free online training to anyone, anywhere and at every skill level.