Bugcrowd acquires Informer to expand crowdsourced security solutions

Bugcrowd, a leading provider in crowdsourced security, announced its acquisition of Informer, a top provider of external attack surface management (ASM) and continuous penetration testing. This strategic move, following Bugcrowd’s significant $102 million fundraise, marks a pivotal expansion in the company’s capability to offer enhanced security solutions globally.

Strategic Expansion in Cybersecurity

By incorporating Informer’s advanced technologies and expertise, Bugcrowd aims to accelerate its growth and expand its offerings to a wider range of customers across various industries. The acquisition is set to integrate and enhance Bugcrowd’s existing services with Informer’s specialized penetration testing and ASM capabilities. This integration is expected to foster a robust platform equipped with AI-driven and data-centric security solutions, addressing the dynamic needs for proactive security measures in today’s digital landscape.

Dave Gerry, CEO of Bugcrowd, expressed enthusiasm about the acquisition: “This marks the first acquisition following our $102 million fundraise and underscores our dedication to ongoing growth and innovation. Our mission is to develop a platform that anticipates and predicts cyber risks. I am confident that this addition to the Bugcrowd Team and platform will greatly benefit our customers, employees, and shareholders.”

Enhancing Cybersecurity Footprint

The acquisition is particularly significant in the realm of ASM, a vital component of contemporary cybersecurity strategies. Informer’s expertise in continuous asset discovery and integrated expert penetration testing is expected to greatly complement Bugcrowd’s existing solutions, notably enhancing the Bugcrowd ASM Risk platform. The merger is poised to set a new standard in the industry, combining machine learning with expert human insight to create a comprehensive security solution.

Marios Kyriacou, CEO of Informer, commented on the merger: “By joining forces with Bugcrowd, Informer’s exceptional team and innovation in Attack Surface Management and PTaaS will continue to disrupt the traditional penetration testing market, giving us a competitive edge in the crowdsourced security industry.”

Market Impact and Future Outlook

With the ASM market projected to grow to $3.3 billion by 2029 at a compound annual growth rate of 29%, the combination of Bugcrowd and Informer is strategically placed to capitalize on this expansion. The integration of both companies’ technologies is anticipated to deliver enhanced asset discovery and monitoring capabilities, thereby providing substantial value to customers by reducing cyber risks more effectively.

Tanya Gay, Chief Operating Officer at Bugcrowd, assured continuity for Informer’s clientele, stating, “Informer’s customers will continue to have access to Informer’s platform and products without service disruption. Our combined world-class portfolio of offerings will be fully integrated by Q3 and available globally to further support both of our customers’ continual threat and exposure management programs.”