Leading hacker-powered pentest and bug bounty platform, HackerOne is valued $110M as its acquisition of $36.4M in Series D fundraising. This latest acquisition signifies the growing demand of hackers for securing firms globally.
The current deal was led by Valor Equity Partners. The Series D was held in the presence of its existing investors such as Benchmark, New Enterprise Associates, Dragoneer Investment Group, and EQT Ventures.
HackerOne has a bright future vision to use the fund. The first step will be expanding it worldwide and will also scale enterprise and data-powered offerings. Above all, it will work to make the largest and most diverse community of hackers.
The bug bounty platform now has become very crucial than the past times, and many players are on the row to tighten the competition.
And HackerOne competes with others like Synack and BugCrowd. Three are now backbone to many companies’ security.
The fundraising also signifies the increasing average payment for hackers. The average bounty HackerOne paid for critical vulnerabilities has hiked to $3,384 in the last year.
That is about a 50% improvement over 2017’s average. Besides, the firm claims that a handful of hackers working with the company could make $1 million, and the strength of the million-dollar club is expanding.
The growth of HackerOne in nine years is quite impressive. Last year, it has increased 214% government programs and more than 30,540 security vulnerabilities.
The platform attracted its customers for finding the first valid vulnerability within 24 hours, and 25% among are of high or critical severity.
Plenty of hackers are working on HackerOne to provide services to the companies. There are teenage hackers who transformed their life immensely through HackerOne, and take responsibilities for the world, says Marten Mickos, HackerOne CEO.
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