Estonian startup Patchstack has secured $5 million in Series A funding to advance its mission of providing comprehensive open-source security solutions. This new investment follows a €2.7 million R&D grant received in 2022.
- Funding Round: Patchstack’s Series A was led by Karma Ventures with G+D Ventures and Emilia Capital.
- Rapid Mitigation: The platform offers near real-time vulnerability protection, cutting patch times from 200 days to immediate.
- New Tool and Compliance: Patchstack released an EU-funded tool to aid compliance with the Cyber Resilience Act.
- Extensive Reach: Patchstack scans over five million websites, preventing millions of attacks. Clients include GoDaddy and Digital Ocean.
- Vulnerability Data and Recognition: Patchstack leads in open-source security with its bug bounty program and was the top CVE Naming Authority in 2023.
- Founders’ Journey: Oliver Sild (CEO) and Dave Jong (CTO) founded Patchstack in 2016 after connecting on a PHP Security subreddit.
With the latest funding, Patchstack is set to accelerate its product development, expand its team, and enhance its role in securing open-source software. The company is positioned to lead the industry in compliance with new cybersecurity regulations and continue its growth trajectory.
