Synack yesterday announced that it has raised $21.25 million in a Series C round of funding led by Microsoft Ventures. Microsoft Ventures will also take a seat on Synack’s board. Synack will use this investment to further develop the Synack Platform, scale adoption across the U.S. and Europe, enter Asia Pacific (APAC), and continue to recruit and invest in the most skilled hackers in the world.
With its hacker-powered intelligence platform, Synack plays a critical role in protecting the world’s high-stakes enterprises and government entities. It makes use of its global crowdsourced network of highly vetted ethical hackers to deliver an offensive approach to defense for organizations.
“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.”
“Traditional security testing presents many challenges that Synack tackles head-on with an innovative, crowd-focused approach,” said Nagraj Kashyap, corporate vice president at Microsoft Ventures. “Based on their already strong market traction and history of working with Fortune 500 enterprise customers, we look forward to seeing what Synack accomplishes next.”