Bugcrowd, a crowdsourced cybersecurity platform, has closed a $30m Series D round after it witnessed a 100% year-over-year growth in booking numbers.
Rally Ventures served as the lead investor of the round, with additional contributions coming from unnamed new and existing backers. The round puts the company’s total equity raised to more than $80m.
With the capital, the company will accelerate the expansion of its platform.
Bugcrowd is a crowdsourced cybersecurity company, which combines actionable, contextual intelligence with the experience and skill of hackers to help organisations better identify and fix vulnerabilities in their systems.
Its services are used in more than 65 industries, spanning 29 countries.
The cybersecurity company has witnessed a 100% year-over-year growth in bookings in the North American enterprise market and 100% increase in critical vulnerabilities submitted to customers.
Bugcrowd CEO Ashish Gupta said, “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.”
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