Connect with us

Hi, what are you looking for?


Cybersecurity Funding

Bugcrowd Raises $102 Million 

Bugcrowd has raised $102 million in strategic growth funding, which it will use to accelerate growth and improve its platform.

Bug bounty platform provider Bugcrowd announced on Monday that it has raised $102 million in strategic growth funding from General Catalyst, Rally Ventures, and Costanoa Ventures.

The new investment will be used to accelerate growth, to continue enhancing its crowdsourced security platform, and for strategic M&A opportunities. 

Bugcrowd’s previous funding round was announced in 2020, when the company raised $30 million in a Series D round that had brought the total to more than $80 million. 

Bugcrowd enables organizations to run bug bounty and vulnerability disclosure programs, helping them find vulnerabilities in their products and systems with the aid of hundreds of thousands of white hat hackers who have signed up on its platform. These hackers can earn significant rewards for their work.

In addition, the company is offering penetration testing and attack surface management services. 

Bugcrowd says it has nearly 1,000 customers, including more than 200 added over the past year. 

“What I love most about this investment is that General Catalyst recognizes that it was never just about bug bounty – Our mission has always been to put the creativity of a crowd of allies in the hands of defenders in as many ways as we can in order to outwit a constantly changing crowd of adversaries in a constantly evolving technological landscape,” said Casey Ellis, Bugcrowd founder and chief strategy officer. 

“This partnership enables the next phase of the category that Bugcrowd pioneered and signals our commitment to continuing to define and dominate it. This investment and partnership positions the Bugcrowd platform, our customers, and the hacker community for incredible growth and success – Both economically and towards the shared goal of helping defenders worldwide better protect themselves and their users,” Ellis added.

Advertisement. Scroll to continue reading.

RelatedHacker Conversations: Casey Ellis, Hacker and Ringmaster at Bugcrowd

Related: Bastille Networks Raises $44 Million to Secure Wireless Devices

Related: Stealth Firm Reken Raises $10 Million Seed Funding

Related: Device Authority Raises $7M for Enterprise IoT Identity and Access Management Platform 

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.


Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Gain valuable insights from industry professionals who will help guide you through the intricacies of industrial cybersecurity.


Join us for an in depth exploration of the critical nature of software and vendor supply chain security issues with a focus on understanding how attacks against identity infrastructure come with major cascading effects.


Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.

Cyber Insurance

Cyberinsurance and protection firm Boxx Insurance raises $14.4 million in a Series B funding round led by Zurich Insurance.

Cybersecurity Funding

2022 Cybersecurity Year in Review: Top news headlines and trends that impacted the security ecosystem

Cybersecurity Funding

Network security provider Corsa Security last week announced that it has raised $10 million from Roadmap Capital. To date, the company has raised $50...

Cybersecurity Funding

Los Gatos, Calif-based data protection and privacy firm Titaniam has raised $6 million seed funding from Refinery Ventures, with participation from Fusion Fund, Shasta...

Cybersecurity Funding

Internet of Things (IoT) and Industrial IoT security provider Shield-IoT this week announced that it has closed a $7.4 million Series A funding round,...

Cybersecurity Funding

CommandK announced that it has raised $3 million in a seed funding round for a solution designed to help organizations secure sensitive data.