Bugcrowd, a San Francisco, CA-based provider of an AI-powered crowdsourced security platform, raised $102M in Growth funding.
The round was led by General Catalyst, with participation from existing investors Rally Ventures and Costanoa Ventures.
The company intends to use the funds to accelerate growth across EMEA, APAC, and the United States, fund continued innovation into the Bugcrowd Platform, and leverage opportunities for strategic M&A, providing added value to clients, partners, and the hacker community.
Led by CEO David Gerry, Bugcrowd provides a data and AI-powered security knowledge platform, whose network of hackers brings diverse expertise to uncover weaknesses, adapting quickly to evolving threats, even against zero-day exploits.
Commenting on the news, David Gerry said: “Over the past year, more than 200 new clients have joined the Bugcrowd Platform to leverage the collective ingenuity of the hacker community. With continued support from our current investors, including participation in this round from Rally Ventures and Costanoa Ventures, Bugcrowd is hyper-focused on a mission to redefine crowdsourced security and this strategic investment is a testament to the unwavering dedication of our team, our hacker community and the trust customers placed in Bugcrowd’s innovative approach to proactive security. This latest investment gives us the resources we need to continue to be the leading force in the crowdsourced security market.”
As a part of this investment, Mark Crane, Partner at General Catalyst and Paul Sagan, Senior Advisor at General Catalyst, will join the Bugcrowd Board of Directors. Sagan will also step into the Board Chair role. Jeff Simon, Chief Security Officer at T-Mobile and Prabhath Karanth, Vice President and Global Head of Security and Trust at Navan, join the advisory board to serve alongside David Fairman, CIO & CSO – APAC at Netskope.