HackerOne, a start-up based in San Francisco with offices in the Netherlands, raised $25 million in Series B funding for its vulnerability management and bug bounty platform.
HackerOne, which was created by people who scaled a new security approach at Facebook, Microsoft and Google, relies on the worldwide hacker community to find and disclose software security holes. The company said it can identify security vulnerabilities on a continuous basis, allowing companies to fix issues before attackers have a chance to exploit them.
More than 250 organizations use the HackerOne platform, including Yahoo!, Twitter, Adobe, Dropbox, LinkedIn, Square, Airbnb, Slack, Snapchat, Mail.ru, QIWI and Vimeo. In addition, HackerOne is the founding member of Internet Bug Bounty, a program for hackers to divulge bugs for the most important open source software that supports the Internet, including Ruby on Rails, OpenSSL and Flash.
The company said it has helped companies find nearly 10,000 security holes paying over $3.19 million in bounties to more than 1,500 independent hackers to date. HackerOne runs over 90 public programs as well as invitation-only programs from companies in banking, insurance, retail, technology and telecommunications, among others.
The funding was led by New Enterprise Associates (NEA) and included existing investors Benchmark along with numerous angel investors: Salesforce Chairman and CEO Marc Benioff, Digital Sky Technologies Founder Yuri Milner, Dropbox CEO and Co-Founder Drew Houston, Yelp CEO and Co-Founder Jeremy Stoppelman, Zenefits COO David Sacks, Riot Games CEO and Co-Founder Brandon Beck, and Berggruen Holdings Chairman Nicolas Berggruen, among others.
“Fulfilling the promise of a safer Internet requires a fundamentally new approach to vulnerability management,” said Merijn Terheggen, co-founder and CEO, HackerOne. “Identifying and fixing software security holes at scale truly takes an army. HackerOne’s early success has been driven entirely by word-of-mouth, proving that our model really works. With this new funding we will be one step closer to our mission of enabling any company to run a world-class vulnerability management program.”
