Crowdsourced security platform Bugcrowd has landed $50 million in growth capital from Silicon Valley Bank that will be allocated toward improving platform innovation and scaling, reports SecurityWeek.
"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," said Bugcrowd CEO Dave Gerry. Such a development comes after Bugcrowd — which offers its artificial intelligence-powered bug bounty platform to Google, OpenAI, T-Mobile, the Department of Defense's Chief Digital and Artificial Intelligence Office, and more than 1,200 other organizations — secured growth funding of $102 million in February. Bugcrowd also entered into an agreement to purchase UK-based penetration testing services provider Informer as part of an effort to bolster its attack surface management capabilities.
