Synack, Inc. , a hacker-powered intelligence, has secured a $21.25 million Series C round of funding led by Microsoft Ventures, with participation from new investors Hewlett Packard Enterprise (HPE) and Singtel Innov8, the corporate venture arm of the Singtel Group.
This financing brings Synack’s total funding to over $55 million. The round also saw participation from current Synack investors, including GGV Capital, GV (formerly Google Ventures) and Kleiner Perkins Caufield & Byers.
The funds will be used 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.
Microsoft Ventures will take a seat on Synack’s board. Additionally, Gary Steele, CEO of Proofpoint and security industry veteran, will be joining Synack’s Board of Directors to support the company through this phase of high growth.
Synack operates by having a community of vetted penetration testers that can be engaged by high-end customers to perform testing of a client digital infrastructure to highlight weaknesses and other vulnerabilities. A remote network of vetted hackers perform these and can uncover critical security vulnerabilities left undetected by traditional security solutions.
Synack co-founders CEO Jay Kaplan and CTO Mark Kuhr are former operators with the US National Security Agency (NSA), which deals with cybersecurity threats and cyber-terrorism.
Kaplan said, “The best defence is a good offence. Businesses can only stay one step ahead of the adversary by beating them at their own game,” said Kaplan.