Turn/River Capital Backs Netsparker in $40M Round

March 08, 2018

Netsparker has raised $40M in financing led by Turn/River Capital, a San Francisco-based growth and private equity fund focused on enterprise software companies. The investment will accelerate Netsparker's enterprise product roadmap, grow sales and marketing initiatives, and expand its geographic footprint to meet accelerating enterprise demand for software to detect and manage critical web vulnerabilities.

Netsparkerís solution is automatic, accurate and easy-to-use and can identify security flaws in any type of website, web application and web service. At its core is Netsparkerís unique Proof-Based Scanning Technology. It automatically verifies security flaws as they are discovered, enabling the scanners to have industry-leading vulnerability detection rates without reporting any false positives, as confirmed by independent third-party testing. Thousands of organizations, including governments and public enterprises, depend on Netsparker daily to detect and manage the mitigation of vulnerabilities.

"Netsparkerís solution combines unique Proof-Based Scanning Technology with enterprise workflow tools, making it the only scalable web security solution on the market. With overwhelming market demand for this solution in the face of increasing security and compliance regulations, such as Europeís GDPR, Netsparker aims to become the de facto solution for enterprises that need to secure thousands of web applications at scale," said Ferruh Mavituna, CEO, Netsparker. "Turn/River Capitalís expertise in growing similar companies, such as website security platform Sucuri, makes them a perfect match for this market expansion."

"Netsparkerís industry-leading vulnerability detection rates have won over a rapidly expanding, loyal base of thousands of enterprises that trust Netsparker with a mission-critical part of their security," said Dominic Ang, Turn/River Capital's founder and Managing Partner. "We are excited to provide capital and our own unique operational expertise in SaaS sales and marketing in support of their continued enterprise sales growth and differentiated product innovation."

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