Cobalt raises $29 million to bring its ‘pentest as a service’ platform to more software teams

Cobalt.io, a “pentest-as-a-service” platform that lets any business access ethical hackers to stress-test their software, has raised $29 million in a series B round of funding led by Highland Europe.

Penetration testing, or “pentesting,” is a process that strives to identify vulnerabilities and exploit them as a real-world hacker might. The pentesting market is currently pegged at $1.7 billion, a figure that will more than double within five years, according to a MarketsandMarkets report.

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