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
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:
- Launching a channel partner program that allows MSSPs and MSPs to use its technologies to deliver offensive security services
- Releasing two open-source tools to help defense, identity and access management (IAM), and security operations center (SOC) teams identify vulnerable network shares and network threats
- Appointing security industry veterans Steve Bakewell, Steve Armstrong and Eric Graves to lead its EMEA team
- Upgrading its AttackSim breach and attack simulation (BAS) platform
- Launching its Attack Management platform
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.