Detectify, a security platform that employs ethical hackers to conduct attacks designed to highlight vulnerabilities in corporate systems, today announced that it raised $10 million in follow-on funding led by Insight Partners. CEO Richard Carlsson says that the new cash, which brings Detectify’s total raised to $42 million, will be put toward product development and improving the overall user experience.

Detectify was founded by four ethical hackers from Stockholm, including Carlsson, who realized the business potential in combining security research with automation. In an interview with TechCrunch, Carlsson pointed out that product development workflows have changed dramatically over the past few years, with new teams within organizations spinning up internet-facing apps and adding potentially vulnerable assets to their employer’s environment. The trend toward low- and no-code tools has lowered the app development barrier to entry, but it’s also made the jobs of security specialists that much harder.

Illustrating the challenges, a recent Dark Reading survey found that 26% of IT and security experts don’t trust the platforms used to create low- and no-code apps. Roughly as many — 25% — said that they don’t even know which apps within their companies are being created by these tools.

“While companies should integrate security best practices earlier in their development cycle and try to catch vulnerabilities in development, production is what truly matters,” Carlsson added via email. “Unless you have a completely linear development process, which no company actually has, you will never catch everything. And this legacy mindset and over-reliance on ‘shifting left’ instills a sense of false confidence in organizations that actually increases their risk level.”

detectify secures $10m more to expand its ethical hacking platform

Image Credits: Detectify

Detectify’s approach crowdsources real payloads — pieces of code that execute when hacker exploits a vulnerability — from a private community of ethical hackers and uses these contributions for payload-based tests. Carlsson claims that Detectify tests customers’ entire attack surfaces, exposing how malicious attackers might exploit internet-facing apps in production. 

In the near future, Detectify plans to roll out new functionality that’ll give security teams the ability to create custom alert policies. Teams will be notified if attacks on vectors like hosts, domains or DNS records are detected, Carlsson says. 

“With Detectify, organizations can maintain an external point-of-view of exactly how attackers would exploit their attack surface, manage exposure, and prioritize their remediation efforts,” Carlsson said.

Detectify currently has 2,000 customers, including “large government digital services” in Europe, and a user base exceeding 10,000. Carlsson asserts that demand remains robust in the face of competition like Cycognito, Crowdstrike’s Reposify, IBM’s Randori, Google’s Mandiant and Microsoft’s RiskIQ, driven by digital transformation efforts around the pandemic. 

“To put it simply, the external attack surface has never been more complicated and harder to defend. This insulates Detectify against market headwinds,” he added. “While no company is immune to market trends, in cybersecurity, the pressure to reduce spend is pitted against cybersecurity teams’ need for best-of-breed solutions to protect the business against nation-state-level attacks.”

TECH NEWS RELATED

Thanksgiving 2022 online sales pip past forecasts at $5.3B, up 2.8% on last year, mobile accounted for 55% of all purchases

Analysts and e-commerce leaders have been predicting a muted online holiday shopping season this year, with sales in the first three weeks of November essentially flat over a year ago due to a weaker economy, inflation, and more people returning to shopping in stores again in the wake of ...

View more: Thanksgiving 2022 online sales pip past forecasts at $5.3B, up 2.8% on last year, mobile accounted for 55% of all purchases

UK to criminalize deepfake porn sharing without consent

Brace for yet another expansion to the UK’s Online Safety Bill: The Ministry of Justice has announced changes to the law which are aimed at protecting victims of revenge porn, pornographic deepfakes and other abuses related to the taking and sharing of intimate imagery without consent — in a ...

View more: UK to criminalize deepfake porn sharing without consent

Karnataka govt proposes 5% commission for app-based auto aggregators Ola, Uber and Rapido

Both Uber and Ola are currently facing the ire of customers in India for random surge pricing. (Image source: Reuters/Representative) Karnataka’s transport secretary on November 25 proposed a commission of 5 percent exclusive of GST to be levied by the app-based auto aggregators Ola, Uber, and Rapido, which is ...

View more: Karnataka govt proposes 5% commission for app-based auto aggregators Ola, Uber and Rapido

Paytm, Zomato top brass rewarded with hundreds of crores of ESOP payouts in H1FY23

(Representative image) New-age companies Paytm and Zomato have recorded share-based payments  worth hundreds of crores each for their top management in the first half of FY23, according to related party transaction disclosures. For Paytm, employee stock option (ESOP) expenses due to key managerial personnel (KMPs), relatives of KMPs and directors was Rs 564 crore ...

View more: Paytm, Zomato top brass rewarded with hundreds of crores of ESOP payouts in H1FY23

5 steps to take your business to the next level

Owning a small business is hard work at any time, let alone right now. In fact, for many owners, the combined impact of the pandemic and the cost of living crisis probably adds up to the most challenging economic circumstances they’ve ever experienced.

View more: 5 steps to take your business to the next level

Leading UK-based Robotics Company BotsAndUs Rebrands as Dexory

The cutting-edge intelligence and robotics company previously known as BotsAndUs will from hereon be known as Dexory it was announced today.

View more: Leading UK-based Robotics Company BotsAndUs Rebrands as Dexory

Elon Musk says Twitter’s new multicoloured verification will launch next week

After messing up the first launch of Twitter’s “power to the people” verification system, Elon Musk said that the social network will tentatively roll out a new multicolored verification system next week. The owner of Twitter said that, under this scheme, companies will get a gold checkmark, government officials ...

View more: Elon Musk says Twitter’s new multicoloured verification will launch next week

Five Ways to Give Back this Black Friday

As millions of shoppers prepare for thousands of deals this Black Friday, Charitable Travel reveals which specialist sites are offering free ways to donate to charity – helping consumers give back at the same time as grabbing a bargain.

View more: Five Ways to Give Back this Black Friday

International digital marketing agency, Eskimoz, expands into UK with the acquisition of Digital Uncut

Taskforce on Climate-related Financial Disclosures a ‘game-changer’ for sustainable lending in the UK, announces Head of Climate at Lloyds Bank

Companies need to become Employers of Choice: Employee engagement and The Great Resignation

A new wave of Solo GP VCs is coming to Europe and Hypernova hopes to power it

South Africa’s Revio allows businesses to connect to multiple payment methods and reduce failures

WeWork China’s former tech head introduces on-demand work pods for mental health

Musk says Twitter will offer “amnesty” to suspended accounts

Twitter layoffs trigger oversight risk warning from Brussels

Stellantis to restructure European dealer network in July 2023

Bessemer, Playground, Root and Seraphim VCs will judge the TC Sessions: Space Pitch-off

Can FTX’s bankruptcy bring order to its chaos?

Automating the income gap

OTHER TECH NEWS

Top Car News Car News