HackerOne credits widespread cloud adoption for increased funding

Penetration testing and bug bounty startup company HackerOne reported that a Series E funding round has allowed it to raise $49 million, bringing its total funds raised to nearly $160 million, according to TechCrunch. HackerOne, which connects companies looking for security issues with hackers seeking bug bounties and which lists Google, Microsoft, Twitter and the U.S. Department of Defense among its clients, credited its growth to the massive surge in cloud adoption in 2021, which also led to a doubling in the number of systems- or data-endangering cloud misconfigurations, as well as the Log4j zero-day flaw that raised companies’ awareness of such vulnerabilities. According to the company, it has discovered more than 17,000 high-risk or critical vulnerabilities in companies during the past year that would have led to a security breach if left unaddressed, and over 2,000 of those were found in December after companies learned of the Log4j bug. Governments and enterprises have “never been so exposed” amid the continuing spread of the attack surface against them, said HackerOne CEO Marten Mickos.