Inveready Technology Investment Group becomes shareholder of buguroo Offensive Security, leading-company of cybersecurity solutions to reinforce its growth.
The consequences of cybercrime affect all economic sectors, including branches of industry with non-technological core business, as well as ordinary people. The costs of cybercrime have increased from $250 billion to $575 billion in a period of just two years, becoming the digital world’s most urgent issue. Today’s breaches are a consequence of a fast, inevitable process of massive digitalization. These forms of cybercrime vary widely, from personal and bank data theft to attacks against applications and points of sale.
Buguroo is a company established in Spain by Pablo de la Riva, one of the greatest cybersecurity’s personalities worldwide. In a short time, he has built a technological infrastructure with a highly effective protection for companies and users against the threats of cybercrime. The company has developed two business lines (Application Security and Cyberintelligence) with the help of one of the most talented teams worldwide. Both business lines are between the fastest growing areas of the cybersecurity market -its total turnover in 2014 was almost $80 billion, according to Gartner.
With a 2 million euro turnover and an annual growth over 100%, buguroo develops and commercializes three different software solutions: bugScout, a static code analyzer, bugBlast, a vulnerability manager for the assets of companies, and bugThreats, a cyberintelligence platform able to continuously analyze the Internet in order to provide protection against cyberattacks before they are even made. 5 trillion code lines automatically audited, over a million identified vulnerabilities and almost 3 million indexed domains greatly strengthen the value of buguroo as a security provider.
Inveready Technology Investment Group leads 3 million euro investment in buguroo with Ticnova Group (www.ticnova.es), STS Inversiones and Cube Ventures (www.cubeventures.es), a leading digital marketing group that invests through its venture capital vehicle. The objective of the funding round is to support the technological development of the company and favor the participation of buguroo in new international markets. The company will open new offices in San Francisco by the end of this year and in London at the beginning of the first quarter of 2016. Ignacio Fonts, Inveready’s Managing Partner, says that ‘the investment in buguroo is a strategy for Inveready First II since cyberintelligence is a fast-growing, attractive sector for venture capital. Given the size of the funding round and of the company, it is sure to affirm this is the most important funding round ever made in Spain in this sector.’
buguroo, with a team of over 50 developers and ethical hackers in Madrid, has agreements with international partners that will back its growth plan. In a remarkable agreement with Deloitte, buguroo has been chosen as developer of its global platform for code analysis. According to Pablo de la Riva, buguroo’s CEO and founder, ‘the company has grown spectacularly with the confidence of our clients and partners like Deloitte, who have had faith in our technology, even though we are a young enterprise. The investment of Inveready, which is known because of its remarkable specialization in this software development sector and more particularly in the Spanish security sector, is a new milestone for buguroo. It will let us build a company aiming to be a leader worldwide.’
Buguroo was founded in 2010.
Buguroo is present in over 25 countries.
Buguroo has over 150 clients.