[Funding alert] Cybersecurity platform BugBase Raises $500K in funding Led By 2am VC, others

Cybersecurity startup BugBase has raised $500K in its pre-seed funding round from 2am VC, with participation from Finsight Ventures, Dholakia Ventures and SAT Industries. 

The round also saw participation from Nilesh Sangoi (founding CTO and former CEO of Meru Cabs), Neeraj Roy (founder of Hungama Entertainment), Kushal Khandwala (director, KIFS Group), Puneet Deora (MD, Deoras Group), and others.

The 100X.VC-backed startup plans to use the funds to expand its team into engineering, security and business development to boost the product offering.

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The Bengaluru-based BugBase was founded in 2021 by two entrepreneurs Dhruva Goyal and Kathan Desai, It is a marketplace for ethical hackers, helping organizations stay cyber safe by providing a platform for continuous and comprehensive security testing.

“Bugbase intends to give a large community of ethical hackers access to an optimized platform that has already begun to revolutionize India’s cybersecurity market. We aim to spread awareness about cybersecurity among organizations and businesses likewise and hope to facilitate interactions between ethical hackers and companies,” said, Dhruva Goyal, founder and chief executive officer, BugBase.

The startup said in a statement that it is currently hosting bug bounty programs and PTaaS (pentest-as-a-service) programs for companies such as boAt and ImpactGuru.

“We believe that the youth of India will play a significant role in the future growth of ethical hacking as a service – especially as the Web3 world yearns for decentralization. The BugBase team is organized and amazingly driven by 20-year-old ethical hackers who demonstrate community leadership and a burning desire to bring ethical hacking mainstream,” said, Hershel Mehta, general partner, 2am VC. 

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The startup aims to promote better security practices among organizations and has certainly set its sights to dominate the cyber security market with the hope of taking India towards a safer future.

About BugBase

BugBase is a curated marketplace for ethical hackers that helps businesses and startups set up bug bounty programs. It is India’s first consolidated bug bounty platform, which allows cyber-security professionals and organisations to collaborate and thrive together.