BreachLock Raises $3 Million in Seed Funding from TIIN Capital’s Dutch Security TechFund

28 mrt 2022
 | 
Auteur: HSD Foundation

Dutch Investor TIIN Capital announced the completion of a seed funding of $ 3 million in BreachLock, a unified Penetration Testing as a Service (PTaaS) platform that caters to enterprise penetration testing needs. The investment underlines the ambition of TIIN Capital to be involved in global Cybersecurity players with a scalable and innovative product and with the mission to make society safer. 

 

Since its inception in 2019, BreachLock has demonstrated significant global traction for its Pen Testing platform. BreachLock with presence across New York, Amsterdam and London has over 80 employees and 600 paying customers, across Banking, Insurance, Computersoftware and Healthcare verticals. The investment by TIIN Capital will fuel BreachLock’s rapid growth. Investments will be done in product innovation and expansion of the company’s Enterprise client base in the U.S. and European markets, amongst which The Netherlands. 

 

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. 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, 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. We are proud to be involved in working together with a passionate team which has the same ambitions as we have” 

 

Read the full press release!

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