SAN FRANCISCO — HackerOne, a leading bug bounty and vulnerability disclosure platform, has secured $40 million in Series C financing. The round was led by Dragoneer Investment Group, a long-term oriented investment firm that is focused on backing exceptional businesses including: Airbnb, Atlassian, New Relic and Uber.
The company will use the new funds to invest further in technology development, expand market reach, and continue to strengthen the world’s largest and most diverse hacker community.
HackerOne is the most widely adopted bug bounty platform in the world with more than 100,000 hackers. Bug bounty programs allow software-powered organizations to identify severe vulnerabilities in live systems fast, and at a fraction of the traditional cost.
More than 700 organizations, including The U.S. Department of Defense, General Motors, Uber, Twitter, GitHub, Nintendo, Kaspersky Lab, Panasonic Avionics, Qualcomm, Square, Starbucks, Dropbox and the CERT Coordination Center trust HackerOne to find critical software vulnerabilities before criminals can exploit them. HackerOne customers have resolved more than 38,000 vulnerabilities and awarded more than $14 million in bug bounties.
“HackerOne is at the forefront of the burgeoning bug bounty movement. Through its impressive and growing customer list, it has proven to be the most sophisticated platform on the market with tremendous potential ahead,” said Marc Stad, Founder and Managing Partner of Dragoneer Investment Group. “Hackers love it because companies on HackerOne pay the highest bounties in the industry, and businesses love it because it provides access to the most diverse hacker community in the world. It is borderline silly for a company not to utilize a bug bounty platform given the immediate reduction in security vulnerabilities and the relatively low price point compared to other security options.”
“Together we hit harder and the results speak for themselves. Our customers typically receive their first valid security vulnerability report the same day they challenge our diverse community of hackers to examine their code,” said Marten Mickos, CEO of HackerOne. “There’s no such thing as perfect software and bug bounty programs are the most efficient and cost-effective solution for finding security vulnerabilities in live software. With support from Dragoneer we are in the best position to rapidly scale and empower the world to build a safer internet.”
HackerOne is headquartered in San Francisco with offices in Seattle, Los Angeles, North Carolina and the Netherlands.