Bugcrowd snaps up $102M for a ‘bug bounty’ security platform that taps 500K+ hackers

Bugcrowd, a crowdsourced cybersecurity platform known for managing bug bounty programs, raised $102 million in equity led by General Catalyst with participation from Rally Ventures and Costanoa Ventures, to expand U.S. and global operations, enhance offerings (bug bounties, penetration testing, attack surface management), and consider M&A. The company reports over 40% annual growth, is nearing $100 million in annual revenue, has a community of 500,000+ hackers adding ~50,000 annually, and serves about 1,000 customers, positioning it competitively against firms like HackerOne.