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NetSPI Launches Blockchain Penetration Testing Security Service

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Penetration testing and attack surface management provider NetSPI has launched its new blockchain penetration testing service.

NetSPI, in a prepared statement, stated it will “provide a comprehensive, full-spectrum evaluation of blockchain-based deployments to enterprises by utilizing its decades of penetration testing expertise, coupled with its understanding of the architecture's unique security concerns.”

Capitalizing on Distributed Ledger Technology

The world's largest organizations are now using distributed ledger technology to manage daily operations, from verifying insurance claims to tracking auto parts in the supply chain, according to NetSPI. Consequently, companies are recognizing the scalability, competitive advantages and revenue opportunities that distributed ledger technology presents.

NetSPI emphasized that its blockchain penetration testing services will evaluate all deployment models — private, permissioned, consortia and public, as well as various distributed ledger technologies, including ConsenSys Codefi, R3 Corda, Hyperledger Fabric, custodial platforms and public chains.

NetSPI Chief Technology Officer Travis Hoyt explained the inspiration behind his company’s new blockchain penetration testing technology:

"As adoption skyrockets, technology and security teams will need to quickly develop their blockchain acumen to support and protect these solutions. This begins with identifying and addressing people, process, and technology gaps. Our new blockchain penetration testing service line demonstrates NetSPI's commitment to be relentlessly future focused, so our customers can be too."

Fresh Funding Triggers Growth

NetSPI recently added $410 million in funding from global investment firm KKR, as reported by MSSP Alert. The company previously secured $90 million in growth funding led by KKR in May 2021.

The new KKR funding supports NetSPI’s technology innovation, talent acquisition and global expansion. The funding is also being used to recapitalize Sunstone Partners, NetSPI’s first institutional investor.

KKR’s investment comes after NetSPI has made several moves to accelerate its growth in 2022:

NetSPI has recorded 61% organic review growth to date in 2022, exceeded 50% organic revenue growth in 2021 and increased its organic revenue growth five-fold since 2017.

Jim Masters

Jim Masters is Managing Editor of MSSP Alert, and holds a B.A. degree in Journalism from Northern Illinois University. His career has spanned governmental and investigative reporting for daily newspapers in the Northwest Indiana Region and 16 years in a global internal communications role for a Fortune 500 professional services company. Additionally, he is co-owner of the Lake County Corn Dogs minor league baseball franchise, located in Crown Point, Indiana. In his spare time, he enjoys writing and recording his own music, oil painting, biking, volleyball, golf and cheering on the Corn Dogs.