Application security testing firm Invicti Security raises $ 625 million
The round Existing investor Turn / River Capital will also participate in the round, which is expected to close in the fourth quarter, Invicti said.
Invicti sells tools that improve the security of web applications for businesses. The company was formed in 2017 by Turn / River Capital, which brought together two leading companies in web application security – Netsparker Ltd. and Acunetix Ltd. – and merged them into a single entity.
Netparker is probably the better known of the two. Founded in 2009, it sells web application security analysis software to businesses that is used to identify security vulnerabilities in websites, web applications, and web services. The software uses “evidence-based scanning technology” to automatically check for security vulnerabilities without reporting false positives.
The software is offered in two versions: a Windows application with advanced vulnerability scanning technology, built-in penetration testing and reporting tools, and a cloud version. The latter offers scalable multi-user online security analysis with built-in business workflow tools to manage up to thousands of websites.
“Netsparker is designed for security testing of enterprise web applications, with a large number of integrations and high scalability, while Acunetix is designed for small and medium businesses and is easy to implement quickly and easily. use, “Invicti told SiliconANGLE in a statement. “Both products allow security and development teams to analyze and protect their entire web application attack surface, whether an application is already in production or in development. “
Acunetix was founded even before Netsparker, as early as 2005. Yet despite their age, both tools continue to experience increasing adoption. Invicti said it has added more than 700 new customers in the past 12 months and is on track to increase its annual recurring revenue by over 60% this year, which suggests there is no shortage of demand for its solutions.
Summit Partners Managing Director and COO Scott Collins has suggested a likely reason for Invicti’s growth. He noted that as software development cycles have dramatically shortened over the past decade, new vulnerabilities are being created at a much higher frequency than ever before.
“Invicti strives to meet this challenge with elegant and transparent solutions designed to bring scale, automation, speed and precision to help organizations secure their web attack surface,” he said. “The company has acquired a reputation as a market leader.
Currently, Invicti has more than 3,100 customers worldwide.
“We are confident that Summit’s extensive security experience will help accelerate our product innovation, expand our reach, and address the pressing problem of web application security facing organizations around the world,” said Ferruh Mavituna, founder and CEO of Invicti.
Invicti said the new funds will be used to support its continued growth and product development initiatives.