With this transaction, Insight Partners reinforces its longstanding support for Detectify’s vision, building upon its participation in previous funding rounds, including Series A, Series B, and follow-on funding. Venture Capital firm Balderton, which led Series B funding, remains a minority stakeholder.

The new funding will further accelerate product innovation, with a focus on delivering a new approach to application security testing for growing attack surfaces. AppSec teams face a pressing challenge as their attack surface rapidly expands and changes. Little innovation has been made in how traditional Dynamic Application Security Testing (DAST) tools approach this challenge effectively. Existing solutions lead to wasted resources, inefficient scanning, and critical vulnerabilities going unnoticed.

“This level of support from Insight Partners, a leading cybersecurity investor, is a testament to our growth and vision”, said Rickard Carlsson, CEO, Detectify. “We are well-positioned to help AppSec teams get visibility into their exposures and run high-fidelity security testing at scale.”

“We’re thrilled to deepen our commitment to Detectify as they embark on their next phase of growth, further strengthening our partnership,” said Teddie Wardi, Managing Director at Insight Partners. “Detectify’s innovative approach to Attack Surface Management continues to deliver value to security teams. We’re excited to support Rickard and the team as they continue to scale.”

Security teams use Detectify to mirror the strategic approach of attackers by efficiently understanding what is exposed and dynamically adapting their AppSec coverage based on evolving circumstances. Assessments are crowdsourced through Detectify’s global community of elite ethical hackers and launched broadly and deeply.