UK cybersecurity firm Netsparker raises $40 million in new funding round

UK-based cybersecurity firm Netsparker has landed a $40 million funding round led by private equity fund Turn/River Capital.

The fresh injection of capital will be invested in the London company’s enterprise security product and marketing efforts with a view to reaching more global markets.

Its solution is used in enterprise infrastructures for early detection of vulnerabilities in web services and apps and reducing false positives. CEO Ferruh Mavituna explained that he anticipates there will be growing demand for the product in light of GDPR regulations coming into effect in May and that it will “become the de facto solution for enterprises that need to secure thousands of web applications at scale.”

“Netsparker’s industry-leading vulnerability detection rates have won over a rapidly expanding, loyal base of thousands of enterprises that trust Netsparker with a mission-critical part of their security," said Dominic Ang, founder and managing partner at Turn/River Capital, which has also backed Sucuri.