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Sprocket Secures $8 Million in Series A Financing

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Sprocket Security, the Pioneer in Continuous Penetration Testing Secures Series A Financing Led by Blueprint Equity

MADISON, Wis., March 28, 2024-- Sprocket Security, the expert-driven offensive security platform with an industry-leading continuous pentesting solution, today announced its $8 million Series A financing. Led by Blueprint Equity, with participation from Wisconsin-based Capital Midwest Fund, the funding will accelerate Sprocket’s platform development, fuel customer success, and expand sales and marketing initiatives.

Sprocket enables security teams to continuously validate their security posture, understand their most complex risks and mitigate threat exposure, with best-in-class support from an expert team.

“Companies that have experience with a point in time pentest understand the limitations of the legacy model,” said Casey Cammilleri, Sprocket’s Founder and CEO. “Technology is constantly evolving and so must security measures. Automated solutions alone can’t keep up with the pace of change, and lack critical business context. That's why we believe in the hybrid approach of human-driven testing supported by automation. It’s the only way to ensure comprehensive and up-to-date testing.This continuous approach is being increasingly understood and appreciated by our customers who have, over the past two decades, witnessed that fully automated solutions can't fulfill all their pentesting needs.”

Cammilleri, who spent his entire career on the offensive side of cybersecurity, founded Sprocket to scale his own domain expertise. In discussing the selection of Blueprint Equity, he stated, “I was initially drawn to Blueprint’s experience investing in cybersecurity and their operationally focused approach. As we got to know the team at Blueprint, we realized what ‘operationally focused’ really means, and are excited to have a collaborative partner as we rapidly scale to meet growing demand.”

Blueprint Equity’s Vice President John Bonhard, who will join Sprocket’s Board of Directors, commented, “Within an ever-changing cybersecurity landscape, the only constant is the presence of threat actors. Constant vigilance, or penetration testing, is critical in understanding how and the extent to which vulnerabilities can be exploited by sophisticated hacker techniques. We see a growing demand among CISOs and IT security leaders for proactive security solutions as they look to harden the growing attack surface within their respective organizations.” He added, “Casey and his COO, Gaurav Kulkarni, are solving this problem with unparalleled execution that customers have only described as a ‘true partnership.’ We’re honored to partner with outstanding leaders and domain experts like Casey and Gaurav.”

Based in Madison, Sprocket is proud to be part of Wisconsin's growing tech ecosystem, contributing to a community that fosters innovation and technology, and playing a role in shaping Wisconsin's future tech-forward landscape.

About Sprocket Security

Sprocket Security is an expert-driven offensive cybersecurity platform specializing in continuous penetration testing. From attack surface management to red and purple teaming exercises, Sprocket’s platform is setting a new standard in offensive cybersecurity for enterprises across industries. To schedule a demo of Sprocket, please visit www.sprocketsecurity.com/watch-demo.

About Blueprint Equity

Blueprint Equity provides expansion capital to high-growth, capital-efficient enterprise software and technology-enabled services businesses worldwide. Blueprint has $275 million of assets under management and is based in La Jolla, CA. For more information, please visit www.onblueprint.com.

About Capital Midwest Fund

Capital Midwest Fund is a Wisconsin-based venture capital firm investing in revenue-stage companies that provide customer-centric, problem-solving, business-to-business technology solutions, including software, services, and products. For more information, please visit www.capitalmidwest.com.

Contact:
MEDIA CONTACT
Marketing, Sprocket Security
marketing@sprocketsecurity.com

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