Swedish cybersecurity startup Detectify, which opened a Boston office in March, raised $23 million in a fresh round of funding led by Balderton Capital. Paua Ventures, Inventure and Insight Partners also participated in the round.
The funding will be used to expand both its product and talent.
Detectify builds on the philosophy of ethical hacking and was founded six years ago by three white-hat hackers. The company builds security tests based on research led by the global white-hat network and security researchers through 'Detectify Crowdsource,' the company's invite-based ethical hacker network.
The startup already counts American brands including Spotify, Trello and King Video Games, the company behind games like Candy Crush Saga and Farm Heroes Saga, as some of its clients.
“Detectify brings together the power of human ingenuity, the immense scalability of the software, and a strong culture of transparency and integrity to provide world-class security to everyone," James Wise, partner at Balderton Capital said in a statement. "This is a fundamentally new approach to protecting businesses from new cybersecurity threats, and alongside our other cybersecurity investments."
Balderton Capital's other cybersecurity investments include Darktrace, Recorded Future and Tessian.
