A new cyber security vulnerability intelligence platform has launched, having won investment from the founder of The Instillery.
Capture The Bug, which claims to be Australasia's first vulnerability intelligence platform, is aiming to democratise cyber security services and "level the playing field" for Australasian businesses.
"We leverage a refined blend of advanced technology powered through our platform and a truly global community of ethical hacking and security research talent to provide cost-efficient and almost infinitely scalable security testing services for our customers," founder and CEO Ankita Dhakar said.
The platform delivers three core services: a bug bounty, vulnerability disclosure and penetration testing as a service (PTaaS).
Capture The Bug is backed by a global community of over 1500 ethical hackers and security researchers, Dhakar said.
The start-up aims to help business affordably and rapidly protect their technology perimeters after these were expanded due to the pursuit of digital transformation and the shift to hybrid work during the pandemic.
"It is our genuine belief that while there is some phenomenal local talent in the cyber arena, for customers the traditional model of cyber security professional services is fundamentally broken," Dhakar said.
A cyber security resource crunch had artificially inflated the cost of local resources while traditional "time for money" consumption models were now unaffordable for most businesses and government agencies, Dhakar said.
Having emerged from two years in stealth mode, Capture The Bug is now aiming to offer a better option by connecting Australian and New Zealand businesses to its community of ethical hackers and cyber security researchers.
"The Capture The Bug platform is the fastest way to access diverse security skills that continuously add value to your organisation," Dhakar said.
Bug bounty programmes, for instance, were predominantly used by tech giants like Open AI, Google, Airbnb, and Microsoft, as well as big global brands.
Capture The Bug, however, offered a "hybrid approach", combining both PTaaS and a bug bounty to incentivise ethical hackers to identify and eliminate bugs.
Clients benefit through comprehensive, targeted, tailored testing and receive customised reporting and remediation guidance to help them address vulnerabilities and strengthen their security postures.
Dhakar took what she described as a leap of faith in 2018 by founding penetration testing company Security Lit to provide security testing services to the A/NZ midmarket firms and SMEs.
Cyber security and blockchain expert Akash Deep Verma is co-founder and COO of Capture The Bug.
"These domains have always fascinated me and continue to fuel my curiosity particularly as we look beyond traditional IT and understand the unique requirements of cyber security and penetration testing in a brave new world," he said.
Fifteen per cent investor and chair Mike Jenkins, founder of cloud partner The Instillery, said Capture The Bug customers only pay for impact and business value, specifically when vulnerabilities were identified.
"This differs from the traditional approach of paying for time and assessments in peetration testing and advisory services," said Jenkins, who is also the founder of Native Data, a provider of advisory and governance advice to start-ups.
Preliminary product feedback indicated clients had exposed twice the number of critical vulnerabilities in their digital and software stacks from virtual penetration testing due to Capture The Bug delivering "the right researcher with the right skills".