YesWeHack Secures USD $28 Million in Funding for Global Growth

YesWeHack, the global Bug Bounty and vulnerability management platform, has raised US$28 million (SGD38 million) in Series C funding. In a world where cyber risks are more strategic and complex than ever, YesWeHack will use the funding to invest in Artificial Intelligence, launch new innovative solutions and expand its international growth.

YesWeHack’s Asia headquarters is in Singapore, where it works with more than 25 of the largest companies, and another 100+ organisations in APAC, across both private and public sectors, including financial services, telecommunications, aviation, e-commerce, and government.

“The rapidly evolving threat landscape, including the rise of AI, means that companies need agile, ‘always on’ security solutions, not once-a-year testing,” said Kevin Gallerin, APAC CEO of YesWeHack. “Our model brings together security experts with diverse perspectives and knowledge, who are familiar with the rapid changes in technology so that we can most effectively address any gaps. Companies new to the Bug Bounty model should start small, and then expand the programme as they become more confident with the results.”

YesWeHack is the market leader for security testing solutions in Asia and Europe, for organisations of all sizes. Its Bug Bounty platform mobilises a community of tens of thousands of ethical hackers, including some 30,000 in Asia, to test the security of its customers in an agile and cost-effective way. All the company’s ethical hackers are carefully vetted and verified and undergo a rigorous KYC process. Their access to client infrastructure is managed incrementally by YesWeHack, based on experience, capabilities, and achievements.

When a security researcher finds a vulnerability, he or she privately discloses it to the organisation so that it can be safely fixed before any damage is done. As a reward, the discovering hacker receives a financial reward, or ‘bounty’.

The latest funding round was led by the private equity firm Wendel, alongside new investors such as venture capital firms Adelie and Seventure Partners, as well as reinvestment from Bpifrance, Open CNP and Eiffel Investment Group. YesWeHack is also delighted to welcome Renaud Deraison, Co-Founder of Tenable and Senior Advisor to Wendel Growth, to its Board of Directors.

With more than 500 customers across 40 countries, YesWeHack covers all business sectors, including:

• Global enterprises such as Louis Vuitton, Decathlon and Tencent
• Public institutions in countries such as France, Spain, Canada and Singapore

Since its last funding round in 2021, YesWeHack has increased by six times its annual recurring revenue and tripled the number of ethical hackers registered on its platform. The company has also developed integrated pentest and attack surface management solutions, offering customers a unified approach to monitoring their online risks and vulnerabilities.

Guillaume Vassault-Houlière, CEO and Co-Founder of YesWeHack, commented: “This funding round is a vote of confidence in our commitment to excellence and our ambitious vision. Thanks to this investment, YesWeHack will deliver even higher levels of customer satisfaction and continue developing innovative solutions in one of the most dynamic segments of cybersecurity. We would like to thank our investors, both longstanding and new, and are honoured by their trust.”

Antoine Izsak, Head of Growth Equity at Wendel, said: “Bug bounty is now recognised as a must by some of the companies most exposed to the cyber threat. We are delighted to be working with the European leader YesWeHack, which stands out for its quality of service, compliance with regulations and the relevance of its technological roadmap for customers who are increasingly overwhelmed by the growing volume of vulnerabilities.”

Renaud Deraison, Co-Founder of Tenable, Senior Advisor to Wendel Growth and new member of the Board of Directors added: “YesWeHack’s community of experts is one of the most qualified in the world to continuously test the security of its customers’ digital infrastructure. I’m honoured to join YesWeHack’s Board of Directors and look forward to contributing to the company’s mission alongside Guillaume and his team.”

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