Summary: Bugcrowd, a cybersecurity solutions provider, has secured a $50 million growth capital facility from Silicon Valley Bank to enhance its AI-powered platform and explore strategic M&A opportunities. The funding aims to bolster innovation and provide greater value to clients, partners, and the hacker community.
Threat Actor: Various | threat actors
Victim: Organizations globally | Bugcrowd
Key Point :
- Bugcrowd plans to scale its AI-powered platform globally with the new funding.
- The company has a network of elite hackers to identify vulnerabilities and adapt to evolving threats.
- Bugcrowd has served over 1,200 customers, including major companies and government agencies.
Bugcrowd, a San Francisco, CA-based provider of crowdsourced cybersecurity solutions, received a $50M growth capital facility from Silicon Valley Bank.
The company intends to use the funds to further scale its AI-powered platform globally, accelerate continued innovation, and leverage opportunities for strategic M&A, providing added value to clients, partners, and the hacker community.
Led by CEO Dave Gerry, Bugcrowd empowers organizations to take back control and stay ahead of threat actors by uniting the collective ingenuity and expertise of its customers and alliance of elite hackers, with its patented data and AI-powered Security Knowledge Platform™. Its network of hackers brings diverse expertise to uncover hidden weaknesses, adapting swiftly to evolving threats, even against zero-day exploits. With scalability and adaptability, its data and AI-driven CrowdMatch™ technology in its platform finds the perfect talent for clients’ fight.
Bugcrowd has served more than 1,200 customers – including OpenAI, Google, T-Mobile, Carvana, the US Department of Defense’s Chief Digital and Artificial Intelligence Office (CDAO), ExpressVPN, Rapyd, New Relic, and OpenSea.
FinSMEs
01/11/2024