Detectify completed a €21 million capital investment round led by Balderton.
Detectify, a Stockholm, Sweden-based company providing cybersecurity services, announced the completion of a €21.5 million ($23.7M) capital investment round.
The funding round was led by British VC firm Balderton Capital, and included participation from existing investors Paua Ventures, Inventure and Insight Partners. Money will be used to accelerate the company's trajectory growth path.
Detectify, founded in 2013 by a group of top-ranked white-hat hackers led by Fredrik Nordberg Almroth and Rickard Carlsson (CEO), developed a website security tool that uses automation to scan websites for vulnerabilities to help customers (i.e. developers) stay on top of security. In 2018, Detectify had sales of SEK 14.9 million ($1.5M).
Prior to this round, Detectify raised about $9M, last round in 2018.