Synack, leaders in crowd security intelligence and penetration testing, has today announced that the company has raised $21.25M in strategic investment from some of the world’s leading technology companies through a Series C round of funding, led by Microsoft Ventures.
“The best defense is a good offense. Businesses can only stay one step ahead of the adversary by beating them at their own game,” said Jay Kaplan, CEO and co-founder of Synack. “Bringing Microsoft Ventures, HPE and Singtel Innov8 on board highlights their ongoing investment in security for their products and customers. We have a shared vision for the future of cybersecurity and see a huge opportunity for alignment in platform development and scaling channels to market.”
The company, which was co-founded by two former NSA security experts, adopts a revolutionary way to tackle the rise of cyber attacks and the shortage of security talent. Powered by hackers, the security platform arms clients with hundred of the world’s most skilled, highly vetted ethical hackers who provide an unique perspective of clients IT environments. Together, they are aided by proprietary technology with the ability to uncover critical security vulnerabilities left undetected by traditional security solution’s.
The new investment included participation from current Synack investors, including GGV Capital, GV (formerly Google Ventures) and Kleiner Perkins Caulfield & Byers.. The investment brings Synack’s total funding to over $55 million which will help further develop the Synack Platform as well as help spread the Synack model across the U.S. and Europe with sights to enter the Asia Pacific markets.
In just four years, Synack’s reputation and clientele has grown and include some of the world’s largest F500/G500 companies, organisations across banking and financial services, healthcare, consumer goods and retail, manufacturing, technology and the U.S. Federal Government.