Synack Raises $7.5 Million to Combat Vulnerabilities on a Global Scale by Combining the Power of World-Class Security Experts With Disruptive Technology
Round Led by Kleiner Perkins Caufield & Byers; New Investor Google Ventures Joins Existing Backers Greylock Partners, Allegis Capital and Derek Smith
MENLO PARK, Calif., 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, and retail. The new funds will help us continue recruiting the best global security talent and further develop our technology platform."
About Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build pioneering companies like Amazon, Electronic Arts, Genentech, Google, Nest, and Twitter. KPCB offers entrepreneurs years of operating experience, puts them at the center of a vast and influential network, and accelerates their success through expertise and support in recruiting, product design and delivery, business development, strategic partnerships and brand building. KPCB invests in all stages from seed and incubation to growth companies and operates from offices in Menlo Park, San Francisco, Shanghai and Beijing. For more information, visit: www.kpcb.com.
About Google Ventures:
Google Ventures provides seed, venture and growth stage funding to the most innovative and promising entrepreneurs across a variety of industries. Founded in 2009, Google Ventures has extensive entrepreneurial experience, deep technical knowledge, and expertise in building high growth, scalable products and companies. Among its 225+ investments are Uber, Kabam, RetailMeNot, DocuSign, AngelList, and Foundation Medicine. Google Ventures is headquartered in Mountain View, Calif., with offices in Boston and New York. For more information, please visit www.gv.com.
Based in Menlo Park, CA, Synack is redefining the traditional model of security testing with technology that allows customers to safely engage a global, on-demand community of trusted security researchers. Synack's platform is massively scalable and enables rapid and efficient vulnerability discovery. Synack was founded in 2013 by security experts Jay Kaplan, CEO, and Dr. Mark Kuhr, CTO. For more information, visit www.synack.com.
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