SAN FRANCISCO (PRWEB) MAY 02, 2018
Cobalt.io, a Pen Testing as a Service platform (PTaaS) transforming the traditional pen testing model for SaaS businesses, announced today that it has received $5 million in funding to continue its global expansion and for further investment in its industry-leading PTaaS platform.
A major new investor in the round is byFounders, with Managing Partner Eric Lagier joining the board of directors. Additional investment comes from elab Ventures, DG Incubation, Plug and Play Ventures and Tim Draper with Draper Associates.
“Cobalt’s current growth and execution track record is impressive, so we were eager to help fuel their continued global growth. They have one clear mission: Delivering the best pen testing ROI for their customers. byFounders is backed by some of the most accomplished founders in the Nordics and Baltics and Cobalt is a great example of the type of excellent Nordic founders with global ambitions that we like to invest in,” said Eric Lagier, Managing Partner at byFounders.
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