Munich ‘hackers’ on their way to becoming a global player: Crashtest Security has second financing round in the bag

Munich ‘hackers’ on their way to becoming a global player
Crashtest Security has second financing round in the bag
Crashtest Security’s founders: Felix Brombacher, Janosch Maier, Daniel Schosser and René Milzarek © Crashtest Security

Crashtest Security’s security tests impress not only new investors. Existing investors, as well, are supplementing their participationin automated security tests for web applications.

Munich, 19–11–2019

With their new financing round, this Munich start-up has attained a total investment in the seven-figure range. Already in the spring of 2018, founders Felix Brombacher, Janosch Maier, René Milzarek and Daniel Schosser had garnered investments from experienced business angels, as well as a family office, both of which are now increasing their share.

Crashtest Security GmbH is a manufacturer of a security scanner for web applications. It tests softwaresystems for security gaps already during the development phase. This makes Crashtest Security highly attractive to such companiesas the mobility provider, Flixbus, for which digital productsand platforms are essential.

The participants in the current financing round include: Christian Siemoneit’s venture-capital firm,SoleriaCapital, Gerhard Müller and Bettina Hoffmann’s GeMü Beteiligungs GmbH and Marco Marchesi,Chairman and CEO of CymbiQ Group AG. The external capital is supplemented by the investments of existing investors from the initial financing round. Managing director Felix Brombacher is elated that the team has beenable to attract additional investors, who “will provide us with support based on years of experience with a range of tech companies, as well as that in the cybersecurity area,and not only financially.

And the efforts of existing investorsis further proof that Crashtest Security is developing successfully.

“Crashtest’s products and new developments confirm this: At theit-sa in October 2019,it presented a unique single-page security scanner, whose development is being supportedand accelerated with the help of funds from investors. The money will also flow into team structure,in particular into sales and distribution. One priority is to place greater emphasis on approaching potential large customers. “The development of agile software is a hot topic with big players. Unfortunately though, security is in many cases still done the way it wasdonein the nineties. With the new capital at our disposal,we have a good basis for demonstrating to these companies the advantages of automated security scans,” explainsBrombacher. New investor Christian Siemoneitalso envisages a growing market for the enterprise: “ever new challenges in IT security are opening great opportunities for new players. We took the decision to invest in Crashtest Securitybecause webelieve that the teamhas the ability to establish a leading position for the Crashtest Security Suite in theglobalmarket. We want to join them on this path and support them with our experience and network.“

About Crashtest Security

Crashtest Security, founded in Munichin 2017 as a high-tech start-up, enables digital enterprises to continuously create secure software with the help of automated security-gap analyses. Crashtest Security is a team of experienced hackers whose aim is to make developing agile software more secure.With a mix of coursesand tools,Crashtest Security accompaniescustomers on the road to agilesecurity. The company’s core product is the Crashtest Security Suite, which automatically scans web applications and APIs for security gaps. In this way,agile development teams can dispense with manual tests and are provided withoptimum support in eliminating gaps. Standardised reports make it possible to measure security statusobjectively, so that risks can be minimised more effectively and statutory requirements fulfilled. Crashtest’s globally unique Scan Engine makes it possible to scan all web applications and APIs without additional user input, thus enabling companies to save up to forty per cent on external pentests and to provide adequate security for all their internet activities.

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