BreachLock Raises $3 Million in Seed Funding to Make Pen Testing Faster and Scalable
Financing Accelerates BreahLock’s Penetration Testing as a Service (PTaaS) Market Expansion
BreachLock, a unified Penetration Testing as a Service (PTaaS) platform that caters to enterprise penetration testing needs, announced the completion of a seed raise of 3 million USD led by TIIN Capital, based in The Netherlands.
Since its inception in 2019, BreachLock has demonstrated significant global traction for its Pen Testing platform. BreachLock, with presence in New York, Amsterdam, and London has over 80 employees and 600 paying customers across Banking, Insurance, Computer Software, and Healthcare verticals. This investment will fuel BreachLock’s rapid growth by investment in product innovation and expansion of its Enterprise client base in the U.S. and European markets.
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BreachLock uses a hybrid approach to deliver Penetration Testing services using Artificial Intelligence (AI), Automation, and Human PenTesters (also known as Ethical Hackers). Unlike other security offerings in the market, BreachLock with their AI and Automation doesn’t aim to replace Humans from the value chain. However, the AI helps to scale the human PenTesters so they focus on discovering more severe security gaps. By doing this BreachLock delivers a unique SaaS-based Pen Testing offering that is comprehensive, fast, and scalable.
“Our clients are investing millions in expanding their application landscape and amplifying their cloud presence. This poses a huge challenge for continuous security posture management and traditional pen testing that is completely human dependent fails to meet this speed and scalability challenge,” said Seemant Sehgal, BreachLock Founder & CEO.
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Seemant further adds, “BreachLock’s focus on a hybrid approach resonates well with our clients and helps them look beyond consulting firms or crowdsourced solutions. We are honored to have TIIN capital supporting us in the seed round of funding, sharing our vision of revolutionizing the traditional approach to Pen Testing.”
Michael Lucassen, Managing Partner of TIIN Capital based in The Netherlands, said, “Investing in and getting involved with BreachLock seemed like a natural fit to us. Security Testing market needs much-awaited innovation and disruption. Building a strong security foundation and solving the security challenges using an optimal combination of AI, Automation and Human Ingenuity is the need of the hour.”
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