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Venture Capital News: HackerOne Raises $25M Series B

2015-06-24
SAN FRANCISCO, CA, Vulnerability management and bug bounty platform, today announced a Series B financing of $25 million led by New Enterprise Associates.
HackerOne, the vulnerability management and bug bounty platform, today announced a Series B financing of $25 million led by New Enterprise Associates (NEA). The round includes participation from existing investors, including Benchmark, as well as numerous angel investors including Salesforce Chairman and CEO Marc Benioff, Digital Sky Technologies Founder Yuri Milner, Dropbox CEO and Co-Founder Drew Houston, Yelp CEO and Co-Founder Jeremy Stoppelman, Zenefits COO David Sacks, Riot Games CEO and Co-Founder Brandon Beck, and Berggruen Holdings Chairman Nicolas Berggruen, among others. Effective immediately, Jon Sakoda, general partner at NEA, joins HackerOne's board of directors.

'HackerOne has built an incredible platform that connects organizations with thousands of hackers worldwide to help defend enterprise and governments,' said Jon Sakoda, general partner, NEA. 'Embracing the hacker community is one of the most promising opportunities in security, and I am thrilled to be part of HackerOne's continued growth and development.'

Created by experts who scaled a new security approach at Facebook, Microsoft and Google, HackerOne activates the worldwide hacker community to find and disclose software security holes. HackerOne is the leading software-as-a-service platform that provides the technology and automation to help organizations run their own vulnerability management and bug bounty programs. Powered by hackers, HackerOne rapidly surfaces security vulnerabilities on a continuous basis, allowing companies to fix issues before attackers have a chance to exploit them.

'Fulfilling the promise of a safer Internet requires a fundamentally new approach to vulnerability management,' said Merijn Terheggen, co-founder and CEO, HackerOne. 'Identifying and fixing software security holes at scale truly takes an army. HackerOne's early success has been driven entirely by word-of-mouth, proving that our model really works. With this new funding we will be one step closer to our mission of enabling any company to run a world-class vulnerability management program.'

More than 250 organizations use the HackerOne platform, including Yahoo!, Twitter, Adobe, Dropbox, LinkedIn, Square, Airbnb, Slack, Snapchat, Mail.ru, QIWI and Vimeo. In addition, HackerOne is the founding member of Internet Bug Bounty, a program for hackers to divulge bugs for the most important open source software that supports the Internet, including Ruby on Rails, OpenSSL and Flash.

HackerOne has helped companies find nearly 10,000 security holes paying over $3.19 million in bounties to more than 1,500 independent hackers to date. HackerOne runs over 90 public programs as well as invitation-only programs from companies in banking, insurance, retail, technology and telecommunications, among others.

About HackerOne

HackerOne is the leading vulnerability disclosure and bug bounty platform connecting businesses with the world's largest community of highly-qualified security researchers. More than 250 organizations including Yahoo!, Slack, Square and Twitter use HackerOne to surface their critical software vulnerabilities before criminals can exploit them. HackerOne is headquartered in San Francisco with offices in the Netherlands. For more information visit www.hackerone.com
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