(LiveHacking.Com) – The company behind Nexpose and Metasploit, Rapid7, has secured $50 million in venture capital funding from Technology Crossover Ventures (TCV). Rapid7 will use the money for growth and already has plans to expand its engineering teams in Los Angeles, CA and Austin, TX, as well as staffing a brand new innovation center at the Company’s headquarters in Boston, MA.
“In the security battle, attackers currently have the edge and Rapid7 intends to change this by recruiting the most talented people and organizations to drive innovation. We are looking for great people that are passionate about helping customers solve the hard problems they face in security,” said Mike Tuchen, CEO of Rapid7. “Our desire to work with people that excel at what they do led us to this engagement with Technology Crossover Ventures. We’re fortunate to have not only their financial support, but also their deep understanding of how to drive technology companies to success.”
The information security market is growing at an impressive rate due to the daily reports of security incidents and security breaches. The security and vulnerability management market is predicted to exceed revenue of $5.2 billion by the end of 2014. According to the 2011 Data Breach Investigations Report, 50% of data breaches in 2010 utilized some form of hacking and 49% incorporated malware.
Rapid7 launched its flagship solution Nexpose, in 2007, giving the information security industry its first unified vulnerability management platform. Nexpose provides users with scanning capabilities across their entire IT environment, including Web, network, applications and databases.
In 2009, the Company acquired the popular open source Metasploit® Framework to further support the community and deliver advanced penetration testing solutions that integrate with vulnerability management. Since then, Rapid7 has delivered a family of Metasploit commercial products, while also growing the open source Metasploit Framework by a factor of four with more than 1 million downloads per year.