SimSpace has raised USD 39 million in debt and equity from BTG Pactual U.S. Private Credit Investments, Communitas Capital and L2 Point Management, money earmarked for new use cases and global expansion. SecurityWeek’s Eduard Kovacs puts the round in context: it takes total funding to USD 114 million, following USD 45 million raised in late 2023. The platform replicates customer production environments in realistic detail so organisations can run live-fire exercises, build and test AI agents and models, sharpen threat detection and tune security tooling. CEO Peter Lee is direct about why that matters — annual capture-the-flags and compliance courses are nowhere near enough when adversaries are weaponising agentic AI to run increasingly sophisticated attacks.
