Bugcrowd, a San Francisco, CA-based crowdsourced security platform, has secured $102 million in strategic growth financing.
SaaS Investors
The round was led by General Catalyst, with participation from Rally Ventures and Costanoa Ventures.
Founded in 2000, General Catalyst is a venture capital firm that makes early-stage and growth investments. Based in San Francisco, California, the firm prefers to make investments in companies operating in consumer, enterprise, fintech, crypto, and health assurance sectors.
Mark Crane and Paul Sagan from General Catalyst will join the Bugcrowd Board of Directors, with Sagan stepping into the Board Chair role.
Bugcrowd Use of Funds
The company will use the funding to scale its AI-powered crowdsourced security platform globally, accelerate growth across EMEA, APAC, and the United States, fund continued innovation into the Bugcrowd Platform, and explore opportunities for strategic M&A.
About Bugcrowd
Founded in 2012, Bugcrowd provides a crowdsourced cybersecurity platform designed to provide organizations with customized security testing programs in order to identify their security problems. The company's platform helps to manage the organization's pen test, bug bounty, vulnerability disclosure, and attack surface management programs, enabling clients to commission a customized security testing program that fits their specific requirements. The firm empowers organizations to take back control and stay ahead of threat actors by uniting the collective ingenuity and expertise of its customers and trusted alliance of elite hackers, with its patented data and AI-powered Security Knowledge Platform.
Funding Details
Company: Bugcrowd, Inc.
Raised: $102M
Round: Strategic Growth
Funding Month: February 2024
Lead Investors: General Catalyst
Additional Investors: Rally Ventures and Costanoa Ventures
Company Website: https://www.bugcrowd.com/
Software Category: Cybersecurity
Source: https://www.prnewswire.com/news-releases/bugcrowd-secures-102-million-in-strategic-growth-funding-to-scale-ai-powered-crowdsourced-security-platform-302059359.html