Bugcrowd, a leading bug bounty platform provider, has secured $102 million in strategic growth funding from investors including General Catalyst, Rally Ventures, and Costanoa Ventures. This substantial investment will be utilized to fuel Bugcrowd’s expansion efforts, further enhance its crowdsourced security platform, and explore potential strategic acquisitions in the cybersecurity space. Notably, Bugcrowd’s previous funding round in 2020 amounted to $30 million in a Series D round, bringing its total funding to over $80 million, reflecting strong investor confidence in the company’s vision and capabilities.
The core focus of Bugcrowd’s platform is to enable organizations to conduct bug bounty and vulnerability disclosure programs effectively. By leveraging the expertise of hundreds of thousands of white hat hackers registered on its platform, Bugcrowd assists companies in identifying and mitigating vulnerabilities in their products and systems. Additionally, Bugcrowd offers penetration testing and attack surface management services to provide comprehensive cybersecurity solutions to its clients, contributing to their overall security posture.
Bugcrowd’s CEO and founder, Casey Ellis, expresses enthusiasm about the recent investment, emphasizing the company’s mission to empower defenders against ever-evolving cyber threats. Ellis highlights Bugcrowd’s commitment to leveraging the collective creativity of a diverse crowd of allies to outmaneuver adversaries in the dynamic cybersecurity landscape. This significant funding and partnership signal Bugcrowd’s dedication to advancing its platform, supporting its customers, and fostering growth opportunities for both the company and the global hacker community.