Round led by Kleiner Perkins Caufield & Byers; New investor Google Ventures joins existing backers Greylock Partners, Allegis Capital and Derek Smith
MENLO PARK, CA — (April 24, 2014) — Synack Inc., delivering an advanced new model for vulnerability and security testing, announced today that it has received $7.5 million in Series A funding. This financing round was led by Kleiner Perkins Caufield & Byers (KPCB), with new participation from Google Ventures and existing investors Greylock Partners, Allegis Capital, and Derek Smith, the CEO of Shape Security.
Synack previously raised $1.5 million in seed funding, bringing its total amount of capital raised to over $9 million. The funds will be used to continue to recruit and certify a diverse set of world-class cyber security experts and to further develop Synack’s security platform.
“Today’s volatile threat landscape coupled with the lack of resources needed to protect the enterprise presents a significant challenge for businesses who are unable to scale their security solutions to stay ahead of these threats,” said Ted Schlein, general partner at KPCB. “Synack is taking a different approach by utilizing advanced stealth technology combined with a trusted global community of security researchers that enterprises can rely on to protect them at mass scale.”
Led by former Senior National Security Agency analysts, Synack is advancing traditional security models by combining the massively scalable power of human expertise — crowd security intelligence — with state-of-the-art technology to address the rapidly evolving security needs of the enterprise.
“With the vast amount of enterprises migrating to the cloud, there is an increased number of attack vectors that leave businesses exposed to cyber threats,” said Karim Faris, general partner at Google Ventures. “Synack is addressing the next-generation of security threats on a global scale by tapping security researchers as an added layer of protection that may be missed by traditional security defenses.”
“The only way to defend against the influx of sophisticated cyber attacks is to combine advanced technology with human interaction to deliver quality and highly effective results at scale,” said Jay Kaplan, CEO of Synack. “Since we launched nine months ago, we have recruited some of the most elite, respected, and well known security researchers in the world and worked with enterprise customers across financial services, healthcare, education tech, and retail. The new funds will help us continue to recruit the best global security talent and further develop our technology platform.”