Bugcrowd Strengthens Security Capabilities with Acquisition of Informer

Sydney Times

— 1 min read
Bugcrowd Strengthens Security Capabilities with Acquisition of Informer

Introduction

Bugcrowd, a company that leverages the skills of over half a million hackers to identify and address security vulnerabilities in networks and applications, recently acquired Informer. Informer specializes in attack surface management (ASM), a critical component of modern security technology.

Acquisition Details

  • Bugcrowd acquired Informer, a UK-based company, in its first-ever acquisition.
  • The terms of the deal remain undisclosed.
  • Informer, which was profitable and bootstrapped, brings its technology, customers, and staff to Bugcrowd.
  • Informer's CEO and founder, Marios Kyriacou, will now serve as Bugcrowd's Director of Product.

Importance of ASM

  • ASM involves continuous monitoring of potential attack vectors within an organization's IT environment.
  • It is essential in the current landscape of cloud services and remote work, providing visibility into an organization's assets and potential vulnerabilities.

Bugcrowd's Strategy

  • The acquisition of Informer allows Bugcrowd to incorporate ASM technology directly into its platform.
  • Bugcrowd aims to develop its own products in the ASM space, enabling greater control and margins.
  • ASM is a growing area in cybersecurity, driven by the complexity of cloud services and remote working environments.
  • Many organizations lack full visibility into their assets, leading to security gaps and potential vulnerabilities.
  • Startups with significant funding are focused on addressing this issue, positioning Bugcrowd well in the market.

Bugcrowd's Position

  • Backed by investors like General Catalyst, Bugcrowd has raised $180 million to date.
  • While valuation remains undisclosed, Bugcrowd's competitor HackerOne was valued at over $800 million in 2022.
  • Bugcrowd is positioning itself as a consolidator in the security space, seeking to capitalize on acquisition opportunities.

Future Prospects

  • Bugcrowd anticipates further acquisitions in the future as part of its growth strategy.
  • The company is evaluating opportunities to expand its capabilities and market presence.

In conclusion, Bugcrowd's acquisition of Informer marks a strategic move to enhance its security offerings and strengthen its position in the cybersecurity market. With a focus on ASM technology and a potential for further acquisitions, Bugcrowd aims to solidify its presence as a leading player in the industry.

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