CrowdCurity Raises $1 Million to Crowdsource Security for Bitcoin Startups
By Greg Anderson, July 29, 2014, Leave a Comment
For many hacked-together startups, security is an afterthought. But for bitcoin-related startups, and other companies where money is moving through their system, security is a make-it or break-it factor. There are plenty of white-hat security firms out there that will run some tests on your project, but you’re relying completely on one firm. To help startups run more of a bug-bounty program (like what Google and the other big companies do) and to make security more accessible, Denmark-founded Crowdcurity crowdsources these security tests and just announced it has raised $1 million.
Leading the round was Tim Draper and Kima Ventures. And following were strategic investors Gerhard Eschelbeck, CTO and SVP of Sophos; Dr. Fengmin Gong, Cofounder and Chief Architect of Cyphort; and Mountain View-based incubator 500Startups. Julie Cullivan, CIO of FireEye, will act as an advisor to the team.
For pricing, CrowdCurity uses a method similar to 99designs, where you can give a basic tier of rewards, and a “super” tier of rewards for found bugs. Presumably the higher-quality researchers will stick to the Super tier, where they can make $2000 for a “high reward” or $500 for a “medium reward”.
CrowdCurity says it undergoes a strict vetting process with Know Your Customer protocols when selecting security researches who get access to the bug bownty programs. Additionally the company integrates with developer tools like GitHub to simplify patching for its customers.
Since we’ve last covered the company they’ve fleshed out their security researchers number, and have found a good niche with bitcoin startups. To date, CrowdCurity has a community of over 1,200 security researchers and has run 90 bug bounty programs.
Share to help us grow the ArcticStartup community!
Callum Johnson Woohooa! This gadget is priceless! It is essential especially for businessmen.
Ever wish your Android device had more buttons? Check out Dimple · 1 day ago
gdx65 Hi Edgars,
I sent an inquiry via the AirDog website contact form.Regards,
Airdog breaks $1 Million to become most successful Latvian crowdfunded project · 1 day ago
jhold Rather disconcerting.. I would have expected this from almost any other European country before I’d expect it from Finland. Apparently a…
FIN-FSA Cracks Down On Equity Crowdfunding Platforms · 1 day ago
mrborn BeerMe helped to find beers from pubs and compare same prices in Tallinn old town or outskirts.
What these Alcohol apps say about the Nordic countries · 1 day ago
Healthy Very cool
GoPro on Steroids: This Latvian drone follows and films your extreme sports · 2 days ago
Open Pitch Session
Yrityslinna, 2nd floor, Room: Johanna
Startup Ideation Bootcamp
Shareholders’ Agreement & Team Building Workshop
Yrityslinna, 3rd floor, Room #2
Senior Developer (partner)
KungFu Writing (Espoo)
Head of/Director Product Management (m/f) for a New Technology Venture in the Field of Telecommunication and Mobile Advertising
Hitfox GmbH (Berlin)
Junior WordPress UI Designer
Topcurve (Tallinn / Remote)