PR98819

BOSTON, Nov. 15, 2022 /PRNewswire=KYODO JBN/ --

To support rapid commercial growth and global expansion, SimSpace is expanding

its executive leadership team and bolstering their offering by opening

additional offices in the US, EMEA, and APAC.

    SimSpace [ http://www.simspace.com/ ] , the industry leader in

military-grade cyber ranges, is announcing today the commercial availability of

its upgraded SimSpace Cyber Force PlatformSM, [https://www.simspace.com/simspace-platform ] expanding its footprint into a

global market worth over $200 billion. [https://www.globenewswire.com/en/news-release/2022/08/25/2504919/0/en/With-9-51-CAGR-Global-Cyber-Security-Market-Size-to-Reach-USD-478-68-Billion-by-2030.html]

    During a period of unprecedented geopolitical risk, leading organizations

can now use the same advanced technology as US national cyber defenders and

global intelligence agencies. SimSpace can compress three years of attacks into

24 hours to ensure the highest levels of mission and defensive readiness.

    The Russian war in Ukraine has fuelled a near 50% increase  [https://pages.checkpoint.com/cyber-attack-2022-trends.html ]in cyberattacks in

the first half of 2022. Goldman Sachs predicts a Russian attack on US

infrastructure could cost the economy up to $1 trillion. [https://www.forbes.com/sites/jonathanponciano/2022/03/07/extremely-destructive-russian-cyberattacks-could-cost-us-billions-of-dollars-in-economic-damage-goldman-warns/?sh=737ae1e92dc0] Businesses of national significance are seeking battle readiness for their

cyber teams, and are using SimSpace's high-fidelity range capabilities to

improve team and process performance, consolidate tools, and reduce costs.

    The C-suite, board members, investors, shareholders, insurers, regulators,

and audit committee members are grappling with the need for more concise

quantifications of risk posture. Military-grade cyber ranges provide answers to

those hard questions, and help businesses make $30 million dollar decisions

about changes in key parts of their cyber spending. SimSpace is trusted [

https://www.peostri.army.mil/persistent-cyber-training-environment-pcte ] by

the US Government, critical national infrastructure, F2000 organizations, and

global intelligence agencies. By deploying the SimSpace Cyber Force Platform,

organizations have achieved a 30% reduction in cyber operational costs and a

40% reduction in breaches in their production environments.

    "SimSpace works to continuously improve the security posture of

organizations and governments worldwide," said William Hutchison, former US

Cyber Command Leader and CEO of SimSpace. "Our Cyber Force Platform evolved

from the requirements established by our US national cyber defenders and today

drives a 48% time reduction to identify and remediate breaches, as well as a

56% improvement in cyber team retention to help businesses meet their financial

objectives and regulatory requirements. We help executives, governments and

security teams build world-class infrastructure and find solutions to highly

complex cybersecurity challenges. The US government trusts SimSpace to protect

their operations and personnel, thwarting sophisticated threat actors."

    SimSpace Strengthens Executive Leadership Team

    To keep pace with its rapid growth, SimSpace is strengthening its

leadership team by tapping James Gerber and Ross Brewer as CFO and EVP. With

over 60 years of combined cybersecurity experience, the executive team is well

placed to drive growth and support the company's expansion.

-        James Gerber, [ https://www.linkedin.com/in/james-gerber-3baab814/ ] CFO -

Gerber will lead SimSpace's business and financial operations to support global

growth. He brings over 30 years of experience working with institutional

investors, publicly listed companies, and capital equity markets. Prior to

joining SimSpace, Gerber was the CFO for IronNet, the Pension Benefit Guaranty

Corporation, and WorldStrides.

-        Ross Brewer, [ https://www.linkedin.com/in/brewerross/ ] EVP of EMEA and APJ

- With a track record of advising governments, critical national infrastructure

organizations, and public companies in every corner of the world, Brewer will

lead SimSpace's international sales and operations for EMEA and APJ. Ross was

previously Vice President of EMEA and APJ for AttackIQ and held sales

leadership roles at LogRhythm and Symantec.

    SimSpace Expands Global Operations

    As part of their international expansion efforts, SimSpace has added to

their global footprint with locations in London, Maryland (U.S.), Prague,

Munich, Dubai, Tokyo, Singapore, and Sydney to expand their global customer

base, sales, and support operations.

    About SimSpace

    SimSpace is the global leader in military-grade cyber ranges, founded by

experts from U.S. Cyber Command and MIT's Lincoln Laboratory to respond to a

new era of unprecedented cyber threat. The company's Cyber Force Platform

enables the most sophisticated enterprises, governments, and critical national

infrastructure organizations to find intelligence-driven answers to the most

vexing security, governance, training, and cyber readiness questions. SimSpace

provides high-fidelity cyber security simulations, training, and safe live-fire

exercises previously only available to the U.S. Cyber Command and the world's

most advanced intelligence agencies. Now, Fortune 2000 financial, retail,

insurance, and other commercial markets can access nation-state level security

capabilities to protect their critical assets, with an average reduction in

cyber operational costs of 30% and a 40% reduction in breaches.

    For more information: www.simspace.com.

    All trademarks belong to their respective owners.

    Logo: https://mma.prnewswire.com/media/1947574/SimSpace_Logo.jpg

    Source: SimSpace