Bugcrowd Grows With $102M Funding And New Customers

Bugcrowd, the pioneer in crowdsourced security, announced that Patrick Morley has joined its board of directors. Morley served as CEO of Carbon Black, a cloud-based endpoint security software provider, for 14 years.

He led the company from its early days to an IPO on Nasdaq in 2018 and subsequently oversaw its acquisition by VMware in 2019.

Bugcrowd Platform

Morley joins a seasoned board at Bugcrowd, which has guided the company through significant growth in 2024. This growth includes a major $102 million funding round, the acquisition of Informer, and the addition of over 130 new customers to the Bugcrowd Platform in the first half of this year.

“I joined Bugcrowd because I believe they’re going to win the market—and I want to help make that happen,” said Patrick Morley, Board Member, Bugcrowd.

Real innovation in cybersecurity

Morley aided grow the firm from 20 employees to 1,200, servicing over 20,000 customers

Morley added: “Bugcrowd has proven its platform leadership in crowdsourced security and is perfectly positioned to lead this space. It’s an exciting time to be part of a team that’s driving real innovation in cybersecurity, and I’m eager to contribute to that success alongside such a talented Board and leadership team.”

During his tenure as CEO of Carbon Black, Morley helped grow the company from 20 employees to 1,200, servicing over 20,000 customers. In 2019, VMware acquired Carbon Black for $2.1 billion. Before his time at Carbon Black, Morley was CEO of digital-identity company Imprivata, followed by COO of former software company Corel Corporation.

Bugcrowd Platform capabilities

“With Patrick, we are adding another seasoned cybersecurity operator to our accomplished team on the board,” said Dave Gerry, CEO, Bugcrowd. “Bugcrowd is growing quickly and doing so in many ways. The company itself continues to grow, the Bugcrowd Platform capabilities are advancing, and we are finding market success through a slew of new customers."

"During this period of growth, I am delighted to add another experienced voice to the company’s leadership and particularly someone who has led a company in a similar stage as Bugcrowd is now. I look forward to working with Patrick as Bugcrowd continues to make strides in the second half of 2024.”

Bugcrowd’s unique approach

Bugcrowd’s unique "skills-as-a-service" approach has uncovered more high-impact vulnerabilities

The Bugcrowd Platform connects organizations with trusted security researchers and hackers to help proactively defend themselves against sophisticated threats.

For over a decade, Bugcrowd’s unique "skills-as-a-service" approach has uncovered more high-impact vulnerabilities than traditional methods, along with clearer ROI, for more than 1,200 customers – including OpenAI, Google, T-Mobile, Carvana, the US DoD’s CDAO, ExpressVPN, Rapyd, New Relic, and OpenSea. 

Bugcrowd’s crowdsourced solutions

With unmatched flexibility and access to a decade of vulnerability intelligence, the Bugcrowd Platform has evolved to address a changing attack surface influenced by the adoption of mobile infrastructure, hybrid work, APIs, crypto, cloud workloads, and AI. 

Bugcrowd’s crowdsourced solutions include penetration-testing-as-a-service, managed bug bounties, vulnerability disclosure programs (VDPs), and AI Safety and Security products.