Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Cybersecurity Funding

Bugcrowd Raises $26 Million to Expand Vulnerability Hunting Business

Crowdsourced security testing company Bugcrowd announced today that it has closed $26 million in a Series C funding round led by Triangle Peak Partners.

Crowdsourced security testing company Bugcrowd announced today that it has closed $26 million in a Series C funding round led by Triangle Peak Partners.

The new funding brings the total amount raised by the company to $50 million, including $15 million raised in a Series B funding round in 2016.

The company’s flagship “Crowdcontrol” offering is software-as-a-service platform that allows organizations run their own customized bug bounty programs to uncover and resolve security vulnerabilities in their products.

The new funding will be used to support product innovation and program management, the company said.

Bugcrowd currently operates the rewards programs of more than 70 different companiesnincluding security firms BitDefender, Centrify, NETGEAR, 1Password, Okta, Cylance, LastPass. Industry customers include MasterClass, Fiat Chrysler, Square, Fitbit, Mastercard, Tesla and Western Union. A recently announced Samsung Electronics’ Mobile Security program rewards security researchers up to $200,000 per vulnerability, depending on its severity. 

Existing investors Blackbird Ventures, Costanoa Ventures, Industry Ventures, Paladin Capital Group, Rally Ventures, Salesforce Ventures and Stanford participated in the Series C round, along with new investors Hostplus and First State Super. 

Written By

For more than 10 years, Mike Lennon has been closely monitoring the threat landscape and analyzing trends in the National Security and enterprise cybersecurity space. In his role at SecurityWeek, he oversees the editorial direction of the publication and is the Director of several leading security industry conferences around the world.

Click to comment

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.

Cloud Security

VMware vRealize Log Insight vulnerability allows an unauthenticated attacker to take full control of a target system.

Mobile & Wireless

Technical details published for an Arm Mali GPU flaw leading to arbitrary kernel code execution and root on Pixel 6.

Mobile & Wireless

Apple rolled out iOS 16.3 and macOS Ventura 13.2 to cover serious security vulnerabilities.

Mobile & Wireless

Apple’s iOS 12.5.7 update patches CVE-2022-42856, an actively exploited vulnerability, in old iPhones and iPads.

Vulnerabilities

Security researchers have observed an uptick in attacks targeting CVE-2021-35394, an RCE vulnerability in Realtek Jungle SDK.

Funding/M&A

Tenable has launched a $25 million venture fund to place bets on early-stage startups in the exposure management space.

Vulnerabilities

Google has awarded more than $25,000 to the researchers who reported the vulnerabilities patched with the release of the latest Chrome update.