YesWeHack raises €4 million and plans to disrupt Europe’s cybersecurity market
February 14, 2019
YesWeHack, Europe’s leading Bug Bounty platform, announced today it has raised €4 million from Open CNP, the corporate venture program of CNP Assurances, and Normandie Participations. This deal aims at asserting the company’s presence in France and accelerate its international development, notably in Europe and Asia.
Founded in 2013, YesWeHack offers companies an innovative approach to cybersecurity with Bug Bounty (pay-per-vulnerability discovered), connecting tens of thousands’ cyber-security experts (ethical hackers) across 120 countries with organizations to secure their exposed scopes and reporting vulnerabilities in their websites, mobile apps, infrastructure and connected devices.
“YesWeHack mobilises collective intelligence to plug the widening gap in cybersecurity skills – one of the big challenges of the next few decades”
Guillaume Vassault-Houlière, CEO of YesWeHack
With this fund-raising, YesWeHack intends to play a key role in the development of an agile approach to security, as a way to accelerate the digital transformation. Bug Bounty fits into the DevSecOps trend (development-security-operations) which embeds security into projects in a more pro-active way, since their inception.
YesWeHack also strengthens its strategic capabilities with Laurent Seror, chairman of Outscale, Eric Leandri, Chairman and CEO of Qwant, Charles Beigbeder and Jonathan Denais of Open CNP joining the board.
With this new investment, Open CNP, the corporate venture program of CNP Assurances, adds its 7thproject to its partnerships with innovative start-ups. Open CNP was set up in 2016, tasked with channelling financial support to disruptive start-ups and working alongside them to develop advanced solutions in growth fields – fintech, assurtech, e-health and other technologies – with the long term vision of better serving its customers. CNP Assurance has been using the YesWeHack platform since July 2018 to run its Bug Bounty program.
Normandie Participations is participating in the dynamism of the region alongside other local financing players. Applying its principle of co-investing with private actors, Normandie Participations, funded with 100% Norman capital, targets companies at the stages of start-up, innovation, development, creation, transmission or turnaround. The regional fund has made 38 investments totalling €30 million in a little over 2 years.