Intigriti, Europe’s leading bug bounty and vulnerability disclosure platform has raised €21,133,700 million in a Series B round, closing the largest funding for a crowdsourced security platform in Europe to date. The round was led by Octopus Ventures, one of Europe’s largest and most active early-stage investors. Germany-based fund EnBW New Ventures is also participating in the round, alongside previous investors and Intigriti’s largest shareholder, ETF Partners. Results acted as exclusive financial adviser to Intigriti.Intigriti’s global cybersecurity platform connects organisations with ethical hackers to continuously test and improve their security through bug bounty programs and other crowdsourced techniques. Achieving 650% growth since its initial funding round in 2020, Intigriti has established itself as the European leader and fastest-growing crowdsourced security platform globally.
The company’s business model has an obvious attraction for insurers, who could connect with ethical hackers and prevent, or at least react faster, to denial of service incidents or sensitive data breaches.
The platform’s dominance in Europe is driven by its focus on the quality of services and high compliance standards, along with the ambition to inspire sustainability and innovation. This approach has caught the interest of new markets, including the US and Asia. Some of the biggest corporate organisations are transitioning their bug bounty to the EU-based platform.
GROWTH PLANS
The new investment will enable Intigriti to further accelerate its rapid detection, reporting and validation of vulnerabilities. Inti De Ceukelaire, Head of Hackers at Intigriti shares: “Our researcher’s automation flows have allowed Intigriti customers to detect vulnerabilities before any commercial scanner could. With this investment, we will continue to optimise the process to keep validation time at a minimum while upholding our 95% accuracy standard.”
To meet market demands, Intigriti will also use the funds to grow its headcount to more than 200 employees worldwide, spread across the company’s offices in the UK, Europe, and Singapore. Further, with 66% of Intigriti’s talent pool considering switching to bug bounty hunting as a full-time career, the company is investing in tools and features to strengthen its position as the platform of choice for ethical hackers.
Stijn Jans, CEO at Intigriti explains: “We anticipate crowdsourced security to be a default career option for talented cybersecurity graduates by 2026, surpassing consultancy in popularity. While the remote working culture introduced new security risks, it also provided companies with the opportunity to work with international talent that was previously out of reach.”
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