Bugcrowd uses the collective creativity of tens of thousands of hackers to test users applications. Using their specialist skills in web and mobile applications, the hackers alert companies to bugs and possible vulnerabilities in their coding through a secure platform.
These can then be prioritised and fixed, preventing real hacking down the line. Only valid and actionable findings will be bought to the company’s attention. The companies then pay the researchers, rewarding them financially so they keep testing. Bugcrowd gives guidance on payouts and takes care of all the transactions.
How they’re disrupting
Bugcrowd is an ingenious and powerful way to test the security of applications by using the best hackers in the business. Keeping applications and data secure on the Internet is a constant headache, but Bugcrowd puts thousands of the world’s top security researchers on a user’s side.
No-one is certain of the real cost of failed software projects, but in the US alone it is estimated to be upwards of $75 billion a year in re-work costs and abandoned systems. It’s not just small businesses these software malfunctions hit. In recent years, they have negatively impacted upon multinational banks, the Federal Bureau of Investigation, and even NASA. Unlocking the significant and talented hacker community to provide a global network of workers is clever.
Investments and future
Bugcrowd has a total funding of $22.65 million. Online security issues are a global problem and has a global workface available to solve it.