Bird & Bird advises Paladin Capital Group on Hack The Box's $55m Series B fundraising

International law firm Bird & Bird has advised Paladin Capital Group on its participation in Hack The Box's $55 million Series B fundraising led by global investment firm Carlyle.

Hack The Box is a leading gamified continuous cybersecurity upskilling and talent assessment platform. This investment aims to fast track Hack The Box’s growth, which has already seen its size triple over the last two years, building on its category-defining “gamer-first” solutions offering. Hack The Box will also enhance its go-to-market function, doubling down on the company’s ongoing international expansion with strong commercial traction in the US, Europe, and APAC.

Hack The Box has attracted significant funding interest due to its highly engaging adversarial cyber up and reskilling solutions that are powered by ultra-realistic coding gameplay and thereby effectively advance the security readiness of Hack The Box’s rising number of blue-chip enterprise and government customers. Chief Information Security Officers and other senior cybersecurity decision-makers increasingly turn to Hack The Box to assess how secure their organizations look like from an attacker’s perspective and address the weakest link in cyber – the human element – through a performance-driven and therefore highly transparent evaluation of in-house and external cyber talent.

Paladin Capital is a leading global investor that supports and grows companies in innovative sectors focused on dual use in both commercial and governmental markets, including cybersecurity. Paladin has invested more the $1 billion in multiple funds and investment vehicles, with opportunities sought both in the US and across the world.

The Bird & Bird Team was led by James Baillieu (partner, Corporate) and Adam Meisels (senior associate, Corporate), as well as Simon Gough (legal director, Tax) and Emily Patel (associate, Tax).

James Baillieu, partner in the Corporate practice at Bird & Bird says: “We were delighted to support Paladin Capital on this latest exciting transaction. This is a fantastic example of the work carried out by our venture and growth capital and cyber practices.”

Gibb Witham, senior vice president at Paladin Capital comments: “With a vibrant community of 1.7 million registered security professionals and enthusiasts, Hack The Box is setting the bar for a new generation of product-led growth companies in the cybersecurity industry. We are thrilled to see Hack The Box becoming a vital partner for enterprises and governments in crafting security teams prepared for cyber attacks. It was a pleasure working with Bird & Bird, whose venture capital expertise helped us to successfully complete the deal.”