HackerOne, which helps businesses find critical vulnerabilities, has collected $36.4m in a funding round led by Valor Equity Partners.
The company is a security platform which helps institutions identify and fix critical vulnerabilities before they can be exploited. HackerOne is made of a network of ethical hackers which are used to find the issues with a client’s system, in return for various benefits.
It is comprised of 500,000 hackers, which has found a total of 130,000 vulnerabilities for clients around the world.
There are three main growth targets HackerOne has in mind for this batch of capital. The first is to further refine its model and provide better opportunities for hackers to learn, be challenged and do good with better rewards for accomplishments.
The RegTech has seen a number of pentesters and security research expert’s signup to the platform, which are knowledgeable on bug bounty programs. Leveraging their expertise will further enhance the platform’s capabilities.
Its next area of growth is innovating around second-order benefits of vulnerability disclosure. On its platform data scientists and vulnerability experts have been collaborating with the vulnerability information database and innovations here could offer new services for HackerOne.
Finally, the company is hoping to grow its international presence and establish new offices in more regions.
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