Cobalt.io, a San Francisco, CA-based Pen Testing as a Service platform (PTaaS) for SaaS businesses, received $5m in funding.
Backers included byFounders, elab Ventures, DG Incubation, Plug and Play Ventures and Tim Draper with Draper Associates. In conjunction with the funding, Eric Lagier, Managing Partner at byFounders, joined the Cobalt board.
Additionally, Rob Mann joined Cobalt as an investor and advisor.
The company intends to use the funds to continue its global expansion and for further investment in its PTaaS platform.
Led by CEO/founder Jacob Hansen, Cobalt.io provides companies such as Verifone, MuleSoft, GoDaddy and Credit Karma with a Pen Testing as a Service Platform (PTaaS), which helps secure applications. Based on a global talent pool of certified freelancers, the company’s SaaS pen test platform delivers actionable results that allow agile teams to pinpoint, track, and remediate software vulnerabilities.