Other Deals
Cybersecurity startup Bugcrowd attracts $102-M led by General Catalyst
Economic Times majority of its “bug bounty hunters” based in India
San Francisco, CA (USA) and Sydney (Australia)-headquartered Bugcrowd, a 12-year-old crowdsourced cybersecurity startup (which has a majority of its “bug bounty hunters” based in India ), has raised USD 102 million in a Series E funding round. General Catalyst led the funding round, with participation from existing investors Rally Ventures and Costanoa Ventures.The fresh capital will help the firm add 100 workers to its current employee base of 350. It is keen to expand outside the US which accounts for about 70% of its revenue. Bugcrowd is also looking at acquisition targets in the security service market. The company serves about 1,000 customers globally and its clients include OpenAI and T-Mobile.The company, founded in Australia in 2012, is known for its bug bounty program which helps companies offer monetary rewards for spotting problems in their public-facing codes. Developers get paid once a bug is identified.
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