{"id":401897,"date":"2020-12-17T09:03:30","date_gmt":"2020-12-17T14:03:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=401897"},"modified":"2020-12-17T09:03:30","modified_gmt":"2020-12-17T14:03:30","slug":"cobalt-finishes-2020-with-record-growth-poised-to-continue-disruption-of-multibillion-dollar-pentesting-market","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cobalt-finishes-2020-with-record-growth-poised-to-continue-disruption-of-multibillion-dollar-pentesting-market\/","title":{"rendered":"Cobalt Finishes 2020 with Record Growth, Poised to Continue Disruption of Multibillion Dollar Pentesting Market"},"content":{"rendered":"

\nMomentum driven by Series B funding, shift to remote-first workforce, customer growth
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San Francisco, CA, Dec. 17, 2020 (GLOBE NEWSWIRE) — Cobalt<\/a>, the leading Pentest as a Service (PtaaS) company that\u2019s modernizing the traditional, static penetration testing model, today announced that it achieved record growth across the business in 2020 and is poised to continue this acceleration throughout the coming calendar year. Not only did the company see a 59 percent increase in total revenue, it also announced a move to a remote-first workforce at the early onset of the pandemic, and has since added 70+ employees, including several strategic hires. The company\u2019s ongoing momentum will help Cobalt on its quest to engage the best cybersecurity talent, via its PtaaS platform, and enable customers to move from static pentests to platform-driven pentest programs.\u00a0<\/p>\n

Taking a more strategic approach to pentesting has proven to be effective at managing corporate risk, a task that has become even more important due to the onset of the COVID-19 pandemic. In fact, according to data from ReedSmith<\/a>, scams increased by 400% over the month of March, making COVID-19 the largest-ever security threat. As the number of companies who hold personally identifiable information rises, cyber criminals continue to take advantage of security flaws not caught by automated security scanners.\u00a0<\/p>\n

\u201cOrganizations around the world are facing an unprecedented volume of cyberattacks,\u201d said Jacob Hansen, co-founder and CEO of Cobalt. \u201cAutomated tools are not enough to keep companies safe. They need the creativity and skills of humans who can understand the thoughts and actions of sophisticated attackers, and who can identify vulnerabilities at a speed that matches even the most aggressive development timetables. Cobalt has risen to meet this challenge by investing in our team and our platform in order to serve our growing list of customers. We will continue to build upon this solid foundation in 2021.\u201d<\/p>\n

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\n Growing the Business, Supporting the Community<\/strong>\n <\/p>\n

In 2020, Cobalt hit a number of key milestones, including:<\/p>\n