Bugcrowd, a crowdsourced security platform has announced that it has raised $30 million in series D funding, bringing the company’s total funding to over $80 million. The investment round, led by Rally Ventures and accompanied by new and existing venture partners.
The company will use the funds to help Bugcrowd accelerate the expansion of its industry-leading crowdsourced security platform.
“Our financial performance in fiscal 2019 combined with our Series D investment validates the strong demand for crowdsourced security as an integral part of any company’s security posture,” said Ashish Gupta, CEO, Bugcrowd. “Today’s organizations face a continuous strain on their security resources, especially as we move to a remote work culture. The Bugcrowd platform provides customers with instant return on investment by providing on-demand access to highly-skilled security researchers on a platform that fosters collaboration between the security and engineering teams and delivers high quality submissions with no false positives to maximize our customers’ resources.”
Bugcrowd is uniquely positioned in the market to help customers quickly find vulnerabilities and fix them faster without compromising on quality or efficiency.
“One of the biggest disruptions being felt at the moment across the world is the transition to remote working and the ability to do so without compromising security,” said Joan Pepin, CSO, Auth0.
“In the fight against cybercriminals, we need resources that apply human ingenuity and talent to protect organizations from constantly evolving adversaries and attack methodologies,” said Art Coviello, Venture Partner, Rally Ventures, formerly CEO of RSA Security.
Bugcrowd serves thousands of customers across 65+ industries in 29 countries. Customers such as Mastercard, Fitbit, Jet.com, Motorola, Twitch, Atlassian, TripAdvisor, Pinterest, Overstock.com, UnderArmour, Square, Twilio, HP, Etsy, Cisco Meraki, FCA and SAP, partner with Bugcrowd’s flagship platform to uncover, triage, and mitigate security vulnerabilities twenty-four hours a day, seven days a week.
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