ProjectDiscovery is focused on identifying exploitable vulnerabilities in web apps, APIs, cloud environments, and third-party software. Credit: Towfiqu barbhuiya/Unsplash.

ProjectDiscovery, an open source-powered cybersecurity startup, has raised $25m in a Series A funding round led by CRV.

The round was also joined by Accel, Caleb Sima, Guillermo Rauch, Lightspeed, Mango Capital, Point72, Rain Capital, SignalFire and Talha Tariq, among other investors.

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Based in San Francisco, California, ProjectDiscovery is focused on identifying exploitable vulnerabilities in web apps, APIs, cloud environments, and third-party software.

ProjectDiscovery chief operating officer Andy Cao said the proceeds will be used to build the company’s team, launch an offering for enterprises and support open-source users.

Along with the funding, the company announced the launch of its fully-managed software as a service platform, called ProjectDiscovery Cloud Platform.

The new platform enables businesses to manage assets, find and address vulnerabilities at scale, and correct cloud security configuration errors, the company said.

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ProjectDiscovery co-founder and CEO Rishiraj Sharma said: “Today’s announcement of our $25m Series A from visionary venture firm CRV and our existing investors, along with the launch of our ProjectDiscovery Cloud Platform, makes us better positioned than ever to advance our mission of democratising cybersecurity by leveraging the power and speed of our talented and enthusiastic open source community.”

CRV general partner Reid Christian said: “With its new cloud platform, ProjectDiscovery has not only introduced a powerful new solution to the threats we are seeing today – they have created a whole new approach that allows engineers from all over the world to collaborate in real-time to diagnose and rapidly remediate security risks as they emerge.”