We’re excited to announce that Silicon Valley Bank (SVB) has provided a $50 million growth capital facility to Bugcrowd.
Provided by SVB’s Technology Banking Group, the new financing will further scale Bugcrowd’s AI-powered platform globally, fund continued innovation into the Bugcrowd Platform, and leverage opportunities for strategic M&A, providing added value to clients, partners, and the hacker community.
“With its innovative platform, Bugcrowd helps companies quickly and cost effectively discover critical vulnerabilities and proactively avoid being blindsided by cyberattacks,” said John Benetti, Managing Director with SVB’s Technology Banking Group. “SVB is excited to continue our long-standing relationship with Bugcrowd, expanding our initial credit facility, and providing financial solutions to help them grow and scale their business.”
I’m excited to have the continued support of Silicon Valley Bank with this $50M growth capital to accelerate innovation and scale our AI-powered platform. Our mission is to help organizations regain control of cyber risks by harnessing the collective ingenuity of the hacker community to outsmart adversaries. This capital provides the resources needed to strengthen our position as the leader of the crowdsourced security market.
This has been one of many incredibly exciting announcements at Bugcrowd this year. In February, we announced a funding round of over $100 million. This investment in Bugcrowd, led by General Catalyst, with participation from our long-term partners Rally Ventures and Costanoa Ventures, kicked off the year. Just a couple of months later, Bugcrowd acquired Informer, a leading provider of attack surface management (ASM) and continuous penetration testing.
During these major events, we’ve continued to build on our momentum, dedicated to creating a new era of modern crowdsourced security that outpaces threat actors. For over a decade, our unique “skills-as-a-service” approach has uncovered more high-impact vulnerabilities than traditional methods, along with clearer ROI, for 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. With unmatched flexibility and access to a decade of vulnerability intelligence, the Bugcrowd Platform has evolved to address a changing attack surface influenced by adoption of mobile infrastructure, hybrid work, APIs, crypto, cloud workloads, and AI.
It’s been a busy year at Bugcrowd…but we’re just getting started!
