Bug bounty giant HackerOne receives $49 million thanks to cloud adoption – TechCrunch

Startups

Bug bounty and penetration testing startup HackerOne has raised a $49 million Series E after a year of massive cloud adoption fueled by work-from-home orders.

The company — which mediates between hackers who find security vulnerabilities and companies who want to fix them — said its recent growth has been driven by an increase in zero-day vulnerabilities, such as the flaw in the ubiquitous open source logging platform Log4j, which attacks the Internet. informed in advance of the December holiday. The number of cloud misconfigurations that can lead to exposed systems or user data has doubled in the past year, the company said.

The company said it identified more than 17,000 high or critical vulnerabilities in the past year that could otherwise have led to compromise, with more than 2,000 vulnerabilities removed in December following the disclosure of the Log4j bug.

HackerOne CEO Marten Mickos said that as attack surfaces grow, businesses and governments have “never been more exposed”.

The company said it plans to use the funding to invest in research and development and expand its go-to-market efforts.

The $49 million Series E brings the total amount raised by HackerOne to nearly $160 million since the company was founded in 2012. The round was led by GP Bullhound, with the participation of existing investors Benchmark, NEA, Dragoneer Investment Group and Valor Equity Partners.

Since its launch in 2012, HackerOne has delivered its bug bounty offering to customers including the US Department of Defense, Google, Dropbox, Microsoft and Twitter.

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