According to published reports, Crowdsourced bug bounty marketplace Bugcrowd has raised $1.6 million Investors ICON Venture Partners, Paladin Capital Group, and Square Peg Capital, as well as angels.

Bugcrowd provides crowdsourced security for web and mobile applications. Bugcrowd runs managed bug bounties, where members of our curated crowd of security researchers compete to be the first to report security flaws for cash and kudos. Facebook, Google and Paypal have used this approach for years, now Bugcrowd makes it available to technology dependant companies of all shapes and sizes.