- The investment was made by Turn/River Capital, a growth and private equity fund
- Capital will fuel product development, marketing and sales team expansion, and acquisitions to support the increased enterprise demand for mission-critical security software
AUSTIN and LONDON--March 8, 2018--Netsparker, the developers of top-rated web application security scanning software, announced today that it 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.
Netsparker’s 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 Netsparker’s 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.
“Netsparker’s 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 Europe’s 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 Capital’s expertise in growing similar companies, such as website security platform Sucuri, makes them a perfect match for this market expansion."
"Netsparker’s 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.”
ABOUT TURN/RIVER CAPITAL
Turn/River specializes in buyouts, spin-outs, growth capital investments, founder liquidity, and recapitalizations of technology, web, and SaaS companies. The San Francisco-based team has deep operational expertise and is focused on accelerating portfolio company sales, marketing and product development. For more information, please visit www.turnrivercapital.com.
Netsparker is an automatic, accurate and easy-to-use web application security scanner that automatically finds security flaws in websites, web applications and web services. Netsparker’s unique Proof-Based Scanning Technology not only reports vulnerabilities but also automatically tests to confirm they are not false positives. Thousands of organizations, including governments and leading enterprises, depend on Netsparker to detect and manage the mitigation of vulnerabilities. Netsparker is headquartered in the UK, with offices in the U.S. and Turkey. For more information on Netsparker, visit www.netsparker.com or follow the company on Twitter, Facebook and LinkedIn.