Maryland cybersecurity training startup Cybrary is planning to move its headquarters from Greenbelt to College Park and is looking to hire, according to cofounder Ryan Corey.
The three-year-old company is currently headquartered in a 3,500 sq. ft. space in Greenbelt. It plans to first relocate to an 11,000 sq. ft. space at 5801 University Research Court, then move to a permanent space at that is 25,000 sq. ft. at 4600 River Rd. The permanent location is located within the Discovery District, a 150-acre area that seeks to colocate academic researchers with startups and larger businesses around the University of Maryland.
Cybrary provides free, online training in cybersecurity for those who are entering the field, or looking to gain new skills and certifications. The company’s content team curates courses and other offerings, and also has partnerships with Kaplan, CybrScore and Practice Labs to develop training materials. It has 2 million members.
The company closed a $3.5 million Series A in September 2017 based on reaching product market fit, and has since started to scale, Corey said. Cybrary doubled the number of employees to about 40, and increased revenue 400 percent. It’s looking to continue hiring in product, engineering and customer success in the coming months. Those will remain the largest teams as the company looks to hire as many as 200 people in the next 3-4 years, based on growth projections, Corey said.
As a result, more space is necessary. In seeking to move, Corey said the company considered access to talent as a top priority, and looked at Crystal City in Arlington, Va., as well as College Park. “What we found over the last three years of being located in Greenbelt is that being at the intersection of Route 95 and 295 has been a major strategic advantage,” Corey said. “The majority of our current team lives in Arlington and Washington, D.C. The people coming from Arlington have roughly a 23 minute drive. College Park is slightly closer to D.C. and Northern Virginia than where we are now.”
The company received an incentive package from Maryland that Corey called “an absolute winner.” The Maryland Department of Commerce has approved a $750,000 conditional loan through the Maryland Advantage program, formerly known as the Maryland Economic Development Assistance Fund, and the company could also qualify for additional state programs and assistance from Prince George’s County.
They also met with Ken Ulman, the University of Maryland Chief Strategy Officer for Economic Development, about the Discovery District.
“The tech hub that they are building and the vision they are executing on is incredibly compelling for rising tech companies,” Corey said. Capital One recently opened a new innovation lab in the area, and WeWork is also moving in. As far as cybersecurity companies, BlueVoyant also has a presence in the area. Transportation-wise, the District has one metro stop already, and the Purple Line will route through the area, Corey said. Ulman said the team behind the Discovery District is “thrilled to welcome Cybrary to our growing roster of powerhouse startups and private sector partners.”
Corey added that real estate company COPT offered flexible lease terms.
Though the address will change twice, the company will be remaining in Prince George’s County.
“Cybrary’s decision to expand within Prince George’s County, using its cutting edge cybersecurity technology and providing high paying jobs for our residents, is an exciting endorsement of the progress that this county has made as a business location,” PG County Executive Rushern Baker said in a statement.