- Total funding of the company rises to $110 million after the closure of Series D funding round.
- HackerOne presently works with over 1,500 consumers that take company’s support to find key security weaknesses so they can be addressed before people with malicious intent identify and exploit them.
HackerOne, a San Francisco-based company created seven years ago which mediates between companies and hackers keen to test their online vulnerabilities, has raised $36.4 million in Series D funding round that brings the company’s total funding to $110 million till date.
Valor Equity Partners led the deal, Valor Equity Partners was joined by the previous investors of company, including New Enterprise Associates, EQT Ventures, Benchmark and Dragoneer Investment Group.
The company stated that presently it works with over 1,500 consumers that take company’s support to find key security weaknesses so they can be addressed before people with malicious intent identify and exploit them. The companies that pay for the help from HackerOne include Intel, Google, Alibaba, Airbnb, the U.S. Department of Defense and General Motors.
The company claims that six hackers have made over $1 million each from its platform in lifetime earnings. Top of these, a 19-year-old, self-learned hacker from Argentina, was the first person to receive more than $1 million as bounty awards from HackerOne earlier in March 2019.
The Argentinian hacker detected and reported over 1,670 valid as well as unique vulnerabilities to organizations, which included Verizon Media Company, WordPress parent Automattic as well as Twitter.
Additionally, HackerOne is presently working on the Libra cryptocurrency project with Facebook and its associates; particularly, the company is developing a program on bug bounty for applications designed on its blockchain.
With data breaches being daily occurrence for all types of businesses — usually caused by payment system flaws but also sometimes because of poor internet hygiene- HackerOne and its rivals like BugCrowd and Synack are gaining importance in several companies.
Source credit:
https://techcrunch.com/2019/09/08/hackerone-just-closed-a-new-round-of-funding-that-brings-its-total-funding-to-110-million/