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Empowering Cybersecurity: ProjectDiscovery Unveils $25M Series A Financing and ProjectDiscovery Cloud Platform

Leveraging Open Source Collaboration to Continuously Detect and Remediate Vulnerabilities

Key Takeaways

  • Funding Milestone: ProjectDiscovery, the open-source-powered security company, has secured a significant $25 million in a Series A financing round led by CRV, alongside notable investors including Point72, SignalFire, and more.
  • Innovative Launch: Simultaneously, ProjectDiscovery has introduced the ProjectDiscovery Cloud Platform, a fully-managed SaaS solution built on top of its popular open-source tools. This platform empowers enterprises to discover and address vulnerabilities at scale.
  • Collaborative Approach: ProjectDiscovery’s success is attributed to its collaboration with a thriving open-source community, resulting in powerful security tools and over 60,000 GitHub stars.

Shaping the Future of Cybersecurity: ProjectDiscovery’s Vision

In a move that underscores its commitment to revolutionizing cybersecurity, ProjectDiscovery has raised $25 million in a Series A financing round. Led by visionary venture firm CRV, this funding marks a significant milestone for the open-source-powered security company. Additionally, ProjectDiscovery has unveiled its innovative ProjectDiscovery Cloud Platform, a pioneering solution that harnesses the power of its open-source tools to deliver comprehensive vulnerability detection and remediation.

Embracing Open Source for Greater Security

Rishiraj Sharma, Co-Founder and CEO of ProjectDiscovery, emphasizes the significance of this development: “Today’s announcement of our $25 million Series A from visionary venture firm CRV and our existing investors, along with the launch of our ProjectDiscovery Cloud Platform, makes us better positioned than ever to advance our mission of democratizing cybersecurity by leveraging the power and speed of our talented and enthusiastic open-source community.”

The Foundation of Success: Open Source Collaboration

ProjectDiscovery’s journey has been shaped by collaboration with a global community of security experts. This collective effort has resulted in the creation of some of the most potent and modern security tools available. Andy Cao, Chief Operating Officer of ProjectDiscovery, highlights the company’s achievements: “ProjectDiscovery already stands as an extraordinary success story in open-source cybersecurity. Thousands of security experts from all over the world have collaborated with us to build some of the most powerful and modern security tools on the market.”

A Growing Community with Global Impact

The impact of ProjectDiscovery’s open-source approach is staggering. With a portfolio of open-source projects boasting over 60,000 GitHub stars and more than 100,000 weekly downloads, ProjectDiscovery has positioned itself as one of the fastest-growing open-source cybersecurity companies. Nuclei, the company’s core scanning engine, processes over 50 million scans monthly from users across 100 countries.

Transforming the Landscape with ProjectDiscovery Cloud Platform

At the heart of this groundbreaking announcement is the introduction of the ProjectDiscovery Cloud Platform. This platform represents a synergy of open-source innovation and cutting-edge technology, catering to the dynamic needs of modern cybersecurity.

Unleashing a Suite of Solutions

Born from the collaborative efforts of four cybersecurity engineers, ProjectDiscovery was founded with a vision to develop modern security tools that could automate vulnerability scanning and asset discovery. The result was a suite of open-source solutions, including the original Nuclei vulnerability scanner. These tools enable users to identify trending and exploitable vulnerabilities across web applications, APIs, cloud environments, and third-party applications.

A Unified Enterprise Solution

The ProjectDiscovery Cloud Platform represents ProjectDiscovery’s inaugural commercial offering, bringing the power of its open-source tools to enterprises through a user-friendly hosted platform. This platform empowers enterprises to effectively manage assets, discover vulnerabilities, and undertake remediation efforts at scale. Furthermore, it addresses cloud security misconfigurations, presenting a holistic solution for the modern cybersecurity landscape.

Elevating Enterprise Capabilities

The ProjectDiscovery Cloud Platform introduces a range of features designed to enhance enterprise capabilities:

  • Scalable Operations: Streamlined operations enable enterprises to effectively run ProjectDiscovery tools at scale.
  • Automated Connectivity: Enhanced efficiency through automated connections augments the functionality of ProjectDiscovery’s modular open-source tools.
  • Robust Enterprise Features: The platform offers a robust user interface, integrations, reporting, and comprehensive support for all security requirements.

Embracing the Future: An Engaged Community

Over 3,000 organizations and engineers registered for the ProjectDiscovery Cloud Platform beta, highlighting the compelling engagement that has propelled ProjectDiscovery to become one of the fastest-growing open-source communities in the cybersecurity sector.

Empowering Innovation in Cybersecurity

Dr. Chenxi Wang, seed investor in ProjectDiscovery and Managing General Partner at Rain Capital, commends ProjectDiscovery’s innovative approach: “With the open-source know-how, an active, fast-growing community, and an innovative approach to vulnerability management, ProjectDiscovery is in a unique position to bring open-source innovation to the enterprise.”

About ProjectDiscovery: Democratizing Cybersecurity

ProjectDiscovery is a global startup with a mission to democratize cybersecurity. As an open-source-powered security company, it specializes in identifying new, exploitable vulnerabilities and misconfigurations preemptively. The ProjectDiscovery Cloud Platform integrates asset management, vulnerability detection, and cloud security tooling, delivering an end-to-end solution that continuously safeguards enterprises’ external perimeters.

About CRV: Supporting Innovation from Inception

CRV is a venture capital firm that has been investing in early-stage tech startups since 1970. With a portfolio spanning influential companies like Airtable and DoorDash, CRV understands the entrepreneurial journey and provides unwavering support from founding to IPO and beyond.

A Future Defined by Innovation

The collaboration between ProjectDiscovery, CRV, and the open-source community signifies a transformative step forward in the realm of cybersecurity. With the introduction of the ProjectDiscovery Cloud Platform, the company is poised to drive change, innovation, and security in an ever-evolving digital landscape.

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