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Earlier this week, bug bounty and vulnerability disclosure platform Intigriti announced that it had raised more than € 21 million ($ 22 million) as part of the series B funding round.
The organization’s solution gives businesses access to more than 50,000 ethical hackers, who can continuously test the security of their environments through bug bounty programs and crowdsourced techniques.
As part of this strategy, an organization can pay an external researcher to look for vulnerabilities that can be exploited by bad actors and report them to the organization through the Intigriti platform to fix them.
For businesses, crowdsourced security has the potential to detect vulnerabilities not detected by commercial scanners, and increases the capabilities of onsite security teams that may not have the time or expertise to detect potential entries. point itself.
Collaborate with hackers
The announcement comes as organizations continue to struggle to allocate the resources necessary to effectively balance cybersecurity concerns with other strategic business objectives.
Research shows that 90% of IT decision makers say their business is willing to compromise cybersecurity in favor of digital transformation, productivity or other goals.
However, Integriti’s head of hackers, Inti De Ceukelaire, argues that bug bounty solutions have an important role to play in providing overstretch security teams with access to external support from researchers. of security “anti-thinking.”
“Our bug bounty platform enables companies to overcome some common cybersecurity challenges. For example, clients can bridge cybersecurity practice gaps by utilizing the thousands of skills, expertise and creativity of security experts. They can also more easily stay on top of cyberthreats by tapping into this network, ”said Ceukelaire.
“Like a malicious hacker, bug bounty hunters are wired to see what your team might miss. In a bug bounty program, organizations also invest in their internal talent by allowing them to learn from incoming submissions and interactions with researchers, ”said Ceukelaire.
By providing organizations with a centralized security testing solution, internal teams can actively test their security defenses and measure the capabilities of their human analysts in a cost -effective manner.
The bug bounty market
Since the organization’s first round of funding in 2020, Intigriti has grown 650%, making it the fastest growing crowdsource security platform in the world. This coincides with the growth of the global bug bounty market, which researchers estimate is worth $ 223.1 million in 2020, and is expected to reach $ 5.46 billion by 2027.
Other companies using the crowdsource security approach include crowdsource security provider BugCrowd, which offers a platform for vulnerability management with a vulnerability rating taxonomy (VRT) and standard vulnerability scoring system (CVSS) ratings, along with remediation guidance; and integrations for JIRA, Slack, ServiceNow, Trello and Github.
BugCrowd raised $ 30 million in funding in 2020.
Another big competitor in the market is HackerOne, which gives organizations access to continuous vulnerability testing from external researchers, who can prioritize vulnerabilities to allow internal security teams to follow up more effectively.
HackerOne recently announced that it raised $ 49 million as part of the series E funding round earlier this year, bringing its total funding to date to $ 160 million.
In terms of differentiation, Intigriti aims to be different from other providers with testing. “Unlike most other leading bug bounty platforms, our programs also offer triage services by default and at no additional charge. Triage plays an important role in managing incoming reports and will ensure that the program’s internal team only receives unique, actionable and accurate reports, meaning they can maintain their focus on long-term activities. business as usual, ”said Ceukelaire.
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