Dutch CyberTech Breachlock nabs seed round

BreachLock, a penetration testing as a service platform, has scored $3m in its seed funding round.

The investment was led by Netherlands-based venture firm TIIN Capital.

This investment burst will help BreachLock enhance its product innovation efforts and the expansion of its client base in the US and Europe.

Founded in 2019, Netherlands-based BreachLock has over 80 employees and 600 paying customers across the banking, insurance, computer science and healthcare verticals.

Its platform takes a hybrid approach to penetration testing services. It combines AI, automation and ethical hackers, which it claims creates a penetration testing solution that is comprehensive, fast and scalable.

Clients using the platform can request and receive a penetration test within a few clicks. It provides offline and online reports and holds monthly scans to give consistent updates of a platform’s security.

TIIN Capital managing partner Michael Lucassen said, “Investing in and getting involved with BreachLock seemed like a natural fit to us. Security Testing market needs much-awaited innovation and disruption. Building a strong security foundation and solving the security challenges using an optimal combination of AI, Automation and Human Ingenuity is the need of the hour.”

Earlier this month, fellow Dutch FinTech company in3 scored $11.1m in an investment round from Finch Capital. The company offers buy now, pay later services where consumers can pay for products in three instalments spread across 60 days.

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