Financing Accelerates BreahLock's Penetration Testing as a Service (PTaaS) Market Expansion
NEW YORK, March 28, 2022 /PRNewswire-PRWeb/ -- BreachLock, a unified Penetration Testing as a Service (PTaaS) platform that caters to enterprise penetration testing needs, announced the completion of a seed raise of 3 million USD led by TIIN Capital, based in The Netherlands.
Since its inception in 2019, BreachLock has demonstrated significant global traction for its Pen Testing platform. BreachLock, with presence in New York, Amsterdam, and London has over 80 employees and 600 paying customers across Banking, Insurance, Computer Software, and Healthcare verticals. This investment will fuel BreachLock's rapid growth by investment in product innovation and expansion of its Enterprise client base in the U.S. and European markets.
BreachLock uses a hybrid approach to deliver Penetration Testing services using Artificial Intelligence (AI), Automation, and Human PenTesters (also known as Ethical Hackers). Unlike other security offerings in the market, BreachLock with their AI and Automation doesn't aim to replace Humans from the value chain. However, the AI helps to scale the human PenTesters so they focus on discovering more severe security gaps. By doing this BreachLock delivers a unique SaaS-based Pen Testing offering that is comprehensive, fast, and scalable.
"Our clients are investing millions in expanding their application landscape and amplifying their cloud presence. This poses a huge challenge for continuous security posture management and traditional pen testing that is completely human dependent fails to meet this speed and scalability challenge," said Seemant Sehgal, BreachLock Founder & CEO.
Seemant further adds, "BreachLock's focus on a hybrid approach resonates well with our clients and helps them look beyond consulting firms or crowdsourced solutions. We are honored to have TIIN capital supporting us in the seed round of funding, sharing our vision of revolutionizing the traditional approach to Pen Testing."
Michael Lucassen, Managing Partner of TIIN Capital based in The Netherlands, said, "Investing in and getting involved with BreachLock seemed like a natural fit to us. Security Testing market needs much-awaited innovation and disruption. Building a strong security foundation and solving the security challenges using an optimal combination of AI, Automation and Human Ingenuity is the need of the hour."
About BreachLock
BreachLock is the world's first AI-powered full stack and SaaS-enabled pen testing as a service. The BreachLock PTaaS platform assists enterprise clients with continuous Security Posture Management. Automation and unification of workflows across technology stack and ecosystems enables a collaborative way to achieve faster and better security. To know more about Penetration Testing as a Service (PTaaS), check our FAQ.
About TIIN Capital – Dutch Security TechFund
Early 2019, TIIN Capital, based in the Netherlands and founded in 1998, started with its sixth venture capital fund; Dutch Security TechFund. Dutch Security TechFund has a sector focused approach (startups and scale ups in Cybersecurity and IoT Security). It has the strategy to invest in innovative and strong teams in Cybersecurity. Due to a cooperation with corporates and governments in Europe it has developed a unique ecosystem, working together with Security Delta in The Hague (NL) and the European Cyber Security Organization (ECSO) in Brussels (BE). For more information see: http://www.tiincapital.nl
Media Contact
Megan Charrois, BreachLock Inc., 1 (716) 575-2233, [email protected]
SOURCE BreachLock Inc.
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