Netsparker, a leading web application security company, has landed $40m from Turn/River Capital.
The deal marks the first investment from Turn/River Capital’s third fund, which recently closed on $168m. Fund III, was significantly oversubscribed and was completed in less than 90 days, will invest in growing, efficient technology companies.
Headquartered in London, Netsparker’s solution can identify security flaws in any type of website, web application and web service. It automatically verifies security flaws as they are discovered, enabling the scanners to have industry-leading vulnerability detection rates without reporting any false positives, as confirmed by independent third-party testing. Thousands of organizations, including governments and public enterprises, use Netsparker to detect and manage the mitigation of vulnerabilities.
Ferruh Mavituna, CEO, Netsparker said: “Netsparker’s solution combines unique Proof-Based Scanning Technology with enterprise workflow tools, making it the only scalable web security solution on the market. With overwhelming market demand for this solution in the face of increasing security and compliance regulations, such as Europe’s GDPR, Netsparker aims to become the de facto solution for enterprises that need to secure thousands of web applications at scale.”
The upcoming General Data Protection Regulation (GDPR) mandates notification of a data breach within seventy-two hours. Therefore, the ability to quickly detect abnormal user behavior, network access patterns and data exfiltration is imperative to all businesses selling products or services to EU based customers, regardless of where the business is operating from.
Turn/River specializes in buyouts, spin-outs, growth capital investments, founder liquidity, and recapitalizations of technology, web, and SaaS companies. Its previous investment include website security platform Sucuri, which provides a malware & blacklist removal and CloudProxy Firewall (WAF) product.
Since 2012, 11.5% of all RegTech investments can be attributed to investments in GDPR-focused solutions according to data by RegTech Analyst.
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