Detectify – an Attack Surface Management platform for AppSec teams powered by elite ethical hackers – announced that global software investor Insight Partners has acquired a majority stake in the company. The deal involved securing funding to accelerate product innovation and drive profitable growth.
With this deal, Insight Partners reinforces its longstanding support for Detectify’s vision, building upon its participation in previous funding rounds, including Series A, Series B, and follow-on funding. And Balderton – which led Series B funding – remains a minority stakeholder.
This new funding round will further accelerate product innovation, focusing on delivering a new approach to application security testing for growing attack surfaces. And AppSec teams face a pressing challenge as their attack surface rapidly expands and changes. Very little innovation has been made in how traditional Dynamic Application Security Testing (DAST) tools approach this challenge effectively. Plus, existing solutions lead to wasted resources, inefficient scanning, and critical vulnerabilities going unnoticed.
Security teams utilize Detectify to mirror attackers’ strategic approach by efficiently understanding what is exposed and dynamically adapting their AppSec coverage based on evolving circumstances. Assessments are crowdsourced through Detectify’s global community of elite ethical hackers and launched broadly and deeply.
KEY QUOTES:
“This level of support from Insight Partners, a leading cybersecurity investor, is a testament to our growth and vision. We are well-positioned to help AppSec teams get visibility into their exposures and run high-fidelity security testing at scale.”
– Rickard Carlsson, CEO, Detectify
“We’re thrilled to deepen our commitment to Detectify as they embark on their next phase of growth, further strengthening our partnership. Detectify’s innovative approach to Attack Surface Management continues to deliver value to security teams. We’re excited to support Rickard and the team as they continue to scale.”
– Teddie Wardi, Managing Director at Insight Partners
