Synack said it closed US $1.5 million in seed capital from Shape Security CEO Derek Smith, Greylocak Partners and Kleiner Perkins Caufield & Byers (KPCB).
In justifying its investment, KPCB general partner Ted Schlein said they recognized the potential of Synack, particularly its stealth technology, which is expected to become the yardstick for spotting weaknesses in the system.
"Companies like Google and Facebook have demonstrated that using global white hat researchers is an outstanding way to identify security problems and Synack can deliver this capability to any commercial company without compromising security, privacy, and confidentiality," he said.
The technology introduced by Synack will be very useful for companies looking to test their systems without dropping down their guards. The stakes are very high considering the estimated US $100 billion lost to cybercrime annually.
Derek Smith, CEO of Shape Security, said they were looking for a complete system that can deliver than the usual testing methodology. "Synack gives us a holistic end-to-end view of our security posture," he said.
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