Bishop Fox plans to use the funds to grow its team and expand its platform. Here are the top-line bullets you need to know.
Bishop Fox, a penetration testing software provider, has raised $75M in a Series B. The round drew participation from Carrick Capital Partners and other undisclosed investors.
HOW’S THE COMPANY PERFORMING?
- Arizona-based Bishop Fox provides offers a continuous offensive security platform that enables organizations to protect their attack surface.
- Its solutions are in use by thousands of clients, including Google, John Deere, Zoom, Equifax, and Sonos.
- The company’s Cosmos platform executes 2.3B+ operations and identifies 13K+ exposures on a weekly basis.
- Bishop Fox’s annual recurring revenue (ARR) grew 3x in 2021.
Source: Bishop Fox
WHY DOES THE MARKET MATTER?
- The global penetration testing market is expected to reach a value of $3.1B by 2027, growing at a CAGR of 12%, according to Marqual IT Solutions.
- The acceleration of digital trends has left companies more dependent on technology than ever, opening the door to more frequent and devastating cyber-attacks. The growing number of complex attacks and the need for secure networks in hybrid (online-offline) environments are fueling the market’s growth.