U.K.-based application security software vendor Netsparker raised $40 million in a Series A round led by San Francisco private equity fund Turn/River Capital.
The centerpiece of Netsparker’s web application security software is its Proof-Based Scanning technology. The software leverages automatic scanning to identify security flaws in websites, web applications, or any web service. As more enterprises move their applications to the web, Netsparker helps secure each application ensuring compliance with international security regulations.
The company typically releases a new version of the software five to six times a year to employ new automation techniques.
The Netsparker security scanner is available as both a desktop Windows application and as a cloud-based multi-user online web application.
The $40 million investment will go toward product development, the expansion of its sales and marketing teams, and toward acquisitions that will help expand its geographic footprint.
Netsparker was founded in 2009 by CEO Ferruh Mavituna, who previously worked as a security engineer at Portcullis Computer Security, which is now a part of Cisco. Mavituna was a penetration tester who sought to find a better way to scan the web applications he was testing.
Mavituna co-founded Netsparker with Peter Edgeler and Mark Lane. While headquartered in the U.K., the company has offices in the U.S. and Turkey.