San Francisco-based cybersecurity company, ProjectDiscovery, has announced that it has successfully raised $25 million in a Series A funding round. The funding round was led by venture firm CRV, with participation from other notable investors including Point72 Ventures, SignalFire, Rain Capital, Mango Capital, Accel, Lightspeed, Guillermo Rauch, Caleb Sima, and Talha Tariq.
Alongside the funding announcement, ProjectDiscovery also unveiled its latest development, the ProjectDiscovery Cloud Platform. This fully-managed SaaS platform is built on top of the company’s popular open-source tools and is designed to allow enterprises to discover and address vulnerabilities on a large scale.
Rishiraj Sharma, Co-Founder and CEO of ProjectDiscovery, expressed his excitement about the latest funding and product launch, highlighting the company’s mission to democratize cybersecurity. He believes that this new funding, alongside the support from investors, will help the company advance its mission by leveraging the power and speed of its open-source community.
Andy Cao, Chief Operating Officer of ProjectDiscovery, touted the company’s success in the open-source cybersecurity field, pointing out that thousands of security experts from around the world have collaborated with ProjectDiscovery to create some of the most advanced security tools available. The company’s open-source projects have attracted over 60,000 GitHub stars and see over 100,000 weekly downloads. The core scanning engine alone, known as Nuclei, conducts more than 50 million scans monthly across users in 100 countries.
With the additional funding, ProjectDiscovery plans to expand its team and launch a leading enterprise offering, while continuing to support its millions of open-source users. The company acknowledges that its success thus far is a direct result of its loyal community, and it aims to give back to this community sustainably for years to come.
Commenting on the funding round, Reid Christian, General Partner of CRV, emphasized the need for new approaches to cybersecurity in light of the rapidly evolving cyber threat landscape. He praised ProjectDiscovery for introducing a powerful solution that allows global engineers to collaborate effectively in real-time to identify and mitigate emerging security risks. Christian stated that CRV is excited to support ProjectDiscovery’s growth story and work closely with its team.
The ProjectDiscovery Cloud Platform, the company’s first commercial offering, builds upon the success of its open-source tools. The platform, which has already attracted over 3,000 organizations and engineers during its beta phase, aims to streamline vulnerability management for enterprises through features such as automated connections, a robust user interface, integrations, reporting, and support for all security requirements.
Dr. Chenxi Wang, Managing General Partner at Rain Capital and a seed investor in ProjectDiscovery, expressed confidence in the company’s ability to bring open-source innovation to the cybersecurity industry. Wang believes that ProjectDiscovery’s open-source approach, combined with its growing community and innovative vulnerability management approach, puts the company in a unique position to drive the vulnerability-management-as-code movement.
Founded with the aim of democratizing cybersecurity, ProjectDiscovery is an open-source-powered security company that specializes in preemptive identification of vulnerabilities and misconfigurations. The company’s cloud platform integrates asset management, vulnerability detection, and cloud security tooling to provide a comprehensive solution for securing enterprises’ external perimeters and prioritizing protection against attackers.
CRV, the leading venture capital firm that spearheaded the funding round, has a long history of supporting early-stage tech startups. With over 500 investments in transformative companies like Airtable, DoorDash, and Vercel, CRV aims to be a trusted partner to founders through every stage of their entrepreneurial journey.
For more information about ProjectDiscovery and its latest developments, visit their website at [https://www.projectdiscovery.io](https://www.projectdiscovery.io).