SAN FRANCISCO / LONDON (IT BOLTWISE) – Bugcrowd has announced the acquisition of Mayhem Security, a company specializing in AI-powered offensive security. This merger aims to develop the next generation of security solutions that combine human creativity with machine intelligence. Bugcrowd plans to combine its global hacker community with Mayhem’s AI platform to help companies develop more secure software faster and more cost-effectively.
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Bugcrowd, a leader in crowdsourced cybersecurity, recently announced the acquisition of Mayhem Security. Mayhem, a company specializing in AI-powered offensive security, was founded in 2012 and has its origins in research at Carnegie Mellon University. The aim of the acquisition is to develop the next generation of security solutions that combine human creativity with machine intelligence.
Mayhem Security specializes in automating the discovery and remediation of software vulnerabilities. The platform uses methods such as symbolic execution and fuzzing to generate test cases that dig deep into the code and uncover exploitable conditions. These continuous tests are integrated into the development cycle and support APIs, complete applications and their runtime environments.
Bugcrowd’s acquisition of Mayhem will allow it to combine Bugcrowd’s global hacker community with Mayhem’s AI platform. This is intended to help companies develop more secure software faster and more cost-effectively, while reducing the attack surface. Bugcrowd customers benefit from automated, proactive protection during development through silent testing that continuously finds, prioritizes, and validates remediation of vulnerabilities.
Mayhem Security, formerly known as ForAllSecure Inc., has raised a total of $38 million in three funding rounds, including $21 million in March 2022. Investors include New Enterprise Associates Inc. and Koch Disruptive Technologies. Mayhem’s technology is used by well-known customers such as Cloudflare, Deloitte and Roblox to defend complex systems.
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