Salesforce Ventures, the corporate venturing arm of cloud computing company Salesforce.com, has taken part in a $15m series B round for BugCrowd, the US-based developer of a crowdsourced enterprise security system.
The round was led by Australia-based venture capital firm Blackbird Ventures and included Rally Ventures, Costanoa Venture Capital, Paladin Capital Group and Industry Ventures.
Founded in Australia in 2012, BugCrowd runs a cybersecurity system called Crowdcontrol that harnesses the skills of a 27,000-strong curated and vetted network of security researchers that discovers and resolves security bugs in its customers’ products.
BugCrowd has now raised $24m altogether, having secured $6m in series A funding from Costanoa, Paladin, Rally Ventures and Blackbird Ventures in March 2015. Icon Venture Partners, Paladin and Square Peg Capital were among the investors in a $1.6m round in 2013.
Casey Ellis, founder and chief executive of Bugcrowd, said: “Hackers and companies desperately need each other but are historically terrible at getting along, and our success positions us ahead of the incredible opportunity to change that.
“We are looking forward to what the future holds here at Bugcrowd, and are incredibly proud to take a scrappy, innovative startup – born in the blossoming Australian startup scene and brought to Silicon Valley – to even greater heights in 2016.”