Bugcrowd seals $6 million Series A funding round

Australian-founded online crowdsourced security testing startup Bugcrowd is preparing for a period of rapid expansion after completing a $6 million Series A funding round led by Costanoa Venture Capital.

Costanoa Venture Capital, Rally Ventures, Paladin Capital, and Australia’s Blackbird Ventures have pitched in for a $6 million Series A funding round for online crowdsourced security testing startup Bugcrowd.

The capital-raising effort, which was led by Costanoa Venture Capital, brings Bugcrowd’s total investment tally to date up to $9 million. In 2013, the company received $1.6 million in seed round funding from Icon Venture Partners, Paladin Capital Group, Square Peg Capital, and others.

Bugcrowd CEO and co-founder Casey Ellis said in a blog post on March 12 that the company plans to accelerate its growth, expanding its day-to-day operations staff, including sales and marketing, while also further building its community of security researchers.

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