In the time it takes to read this sentence, a new cybersecurity attack will have been carried out — leaving organizations exposed to data breaches and significant financial losses.
The past seven years have seen an increase in the frequency of these attacks, according to Cybersecurity Ventures. Back in 2016, ransomware attacks occurred every 40 seconds. By 2019, attacks had increased to every 14 seconds, and in their frequency increased yet again to every 11 seconds.
Meanwhile, the cost of these attacks has also ballooned. According to IBM Security’s “Cost of a Data Breach” report from 2022, data breaches came with an average price tag of $4.35 million — an all-time high in the 17-year history of the annual report.
But these increasing numbers aren’t indicative only of the increasing skill and power of the people behind these attacks — in fact, in the vast majority of these cyberattacks, human error is also a culprit. A 2022 Stanford study found that 88 percent of cybersecurity breaches were the result of an employee’s mistake.
As the frequency and costliness of cyberattacks continue to grow, so too does the need to educate and equip workforces with the tools and knowledge to avoid and protect themselves against looming threats.
Enter Immersive Labs, which provides businesses with hands-on labs and realistic simulations to continuously assess and bolster their cybersecurity resilience across all levels of the organization.
“Threats from cyber criminals in every industry and sector have never been higher. Investment in cybersecurity technology and processes continues to grow at an exponential rate,” said VP of North America Sales Frank Selinger. “In order to effectively deter the growing threat from malicious actors, we need to scale in tandem with that expanding landscape.”
“In order to effectively deter the growing threat from malicious actors, we need to scale in tandem with that expanding landscape.”
When human error — or a lack thereof — directly impacts a business’s cyber resilience, Immersive Labs’ people-centric approach is an appealing value proposition for customers.
Maintaining this people-first mentality amid its current growth period is essential to the company’s continued success.
“I was drawn to Immersive Labs’ unique approach to cybersecurity — instead of just adding another product to your tech stack, we’re ensuring our customers’ people are resilient and have the knowledge to confidently respond to any threats they may face,” said Senior VP of Customer Experience Julie Chapman.
“The opportunity to help Immersive Labs accelerate its growth is a major reason I chose to join in the first place,” she added.
Meeting the Moment
Where there is a pain point, there is opportunity. For Immersive Labs and its team, the opportunity lies not only in scaling but also in the chance to make a difference in customers’ business outcomes by navigating challenges that can feel insurmountable at times.
“Cyber leaders face increased pressures to build and prove cyber preparedness across the workforce, and as the threat landscape continually changes, they need more support than ever,” explained Chapman. “This is an offering the market needs, and we’re poised to capitalize on it and grow with the increased appetite for it.”
“This is an offering the market needs, and we’re poised to capitalize on it and grow with the increased appetite for it.”
To prepare its customers, Immersive Labs is tasked with tracking the broader trends and tactics used by malicious actors to exploit businesses while also staying attuned to the specific needs and interests of its clients.
“I would point to digital transformation and a need to prove cyber resilience to C-level executives and boards,” said Chapman of the developments that are defining her customer relations strategy. “Customers expect seamless and personalized interactions across multiple channels.”
In an industry where numbers can illustrate risk in terms of the amount of money businesses will lose due to cyberattacks and the length of time it will take them to recover and the frequency of attacks, business leaders are also wanting concrete figures and benchmarks to demonstrate their resilience — or confidence and capabilities to prepare for, and respond to, cyber threats.
“Customers are increasingly looking to quantify how ready they are for a cyberattack, and so they look to Immersive Labs for guidance on how they can better prepare their people and prove it to senior leaders,” said Chapman.
As Immersive Labs grows its customer experience team to keep up with increased demand, Chapman is focused on identifying candidates with a genuine interest in and empathy for the customer.
“I look for individuals who have a deep understanding of the importance of customer satisfaction,” said Chapman. “I strongly believe that adapting to customer needs and finding innovative solutions are essential for driving customer satisfaction and loyalty.”
Ambitious Goals for the Future
As Immersive Lab seeks to grow its position in the Global 2000 and Fortune 500, the company is focused on building out both direct and channel sales teams across all levels of its go-to-market strategy.
“It’s an important step in our growth, particularly here in the United States,” Frank Selinger explained. “Doing so will enable us to seize the market opportunity that exists around helping the largest organizations continuously assess, build and prove their cyber workforce resilience.”
Threats from malicious actors have never been higher. Likewise, investments in cybersecurity products have soared. Gartner estimates that in 2023, investments in information security and risk management will exceed $188 million.
As Immersive Labs expands its product offerings and customer outreach efforts, its own workforce’s professional development remains a top priority.
“Immersive Labs continues to invest heavily in a best-in-class onboarding experience,” said Selinger. “Our goal is to not only build knowledge on how to position the value of our platform and the products themselves but also help build acumen in the cyber security domain as a whole.”
“Immersive Labs continues to invest heavily in a best-in-class onboarding experience.”
From the very beginning of onboarding, 30-, 60- and 90-day objectives and benchmarks are laid out for new hires. Also, team members are provided regular training sessions, workshops and webinars focused on building skills — plus, Immersive Labs’ platform has proven to benefit not only its customers but also its employees by growing their knowledge on cybersecurity.
“With our Team Sim and Crisis Sim offerings, our platform has something for everyone, from the overall workforce to the engineering and security teams, to the top of the board room,” said Selinger.
Moving Forward with a Mission
As Immersive Labs forges ahead on its growth journey, its central goal remains to help customers safeguard their organizations by expanding their knowledge.
“Immersive Labs continues to gain momentum with our mission to help the world’s largest enterprises build and prove their cyber capabilities across the workforce,” said Chapman. “Fostering long-term customer relationships, building brand reputation and loyalty, and delivering exceptional experiences remain top priorities.”
By never losing sight of this underlying mission, existing team members like Chapman and Selinger and new hires will be unified and clear-eyed as they confront the emerging challenges and threats that companies increasingly face.
