Using crowdsourcing to fight cybercrime
A new cybersecurity business is a game-changer for smaller Kiwi firms, allowing them access to the services of security professionals from around the world, at a fraction of the normal cost. Capture the Bug is an intelligent security vulnerability platform that connects businesses with a global pool of security professionals who are incentivised to hunt, […]
A new cybersecurity business is a game-changer for smaller Kiwi firms, allowing them access to the services of security professionals from around the world, at a fraction of the normal cost.
Capture the Bug is an intelligent security vulnerability platform that connects businesses with a global pool of security professionals who are incentivised to hunt, report and fix bugs. By participating in a bug bounty programme, businesses can identify vulnerabilities before they are exploited by malicious hackers, avoiding costly data breaches and reputational damage.
Bug bounties have been a popular tool for large companies including Google, Microsoft and Airbnb and government agencies for years but, until now, smaller organisations have been unable to access these services due to cost.
Capture the Bug’s innovative approach to cybersecurity gives business owners another layer of protection in their fight against cybercrime, helping them secure their customers’ data and maintain the integrity of their systems. It’s the brainchild of Ankita Dhakar (pictured below), a technology and cybersecurity industry expert, who saw the need for the service when dealing with clients in her role as a security consultant.
Well-known industry stalwarts Mike Jenkins (ex Instillery) and Dr Vimal Kumar, head of the Cyber Security Lab at The University of Waikato, are on board as advisers and investors.
“The rise in cybercrime is a concern to most New Zealand businesses but the cost of security specialist salaries at $150k+ is prohibitive for many and there’s a shortage of professionals in New Zealand with the essential specialist cyber-security skills,” says Dhakar. “So, we set out to find a way to democratise it.
“We believe that all organizations, regardless of size, should have access to cyber security services that can protect their assets and customers from harm.”
The result is a user-friendly platform that makes it easy for companies to set up and manage their own bug bounty programs and next-generation pentests. With Capture the Bug, you get the expertise of numerous security professionals rather than just one, and users only pay if a bug is found, making it an affordable and accessible process.
During company formation, research and development, Capture the Bug worked with a range of Kiwi and Australian clients to evolve the offering. As a result, they have already scored some major customer wins, including small Kiwi government agencies and Crown-owned entities, engineering and law firms, financial services businesses and a well-known large retailer.
Dhakar says that while some cyber breaches hit the headlines, such as the recent significant data thefts from Latitude Finance and Optus, attacks on many smaller Kiwi businesses usually stay under the radar but are no less devastating.
“Through our networks we hear all the time about smaller businesses being held ransom by these cyber criminals. One regional business had access to their in-house systems hacked which meant an expensive week of no production while they tried to get back into their order system. Another one had access to their website taken over and dodgy blog articles uploaded, which caused reputation damage to their brand. Hackers don’t just hit big corporates. SMEs are targets, too.”
The innovative new cyber security platform player is founded in Kirikiriroa (Hamilton) and is currently seeking to raise $1.5M in a seed-funding round which Dhakar says will help the company ramp up expansion, particularly in Asia Pacific with a focus on Aotearoa, Australia and India.
“We’re exceptionally proud of the launch of Capture the Bug and what it means for cybersecurity in NZ and beyond,” says Dhakar. “Capture the Bug is a game-changer for the cybersecurity industry and for business owners who want access to the best and peace of mind that their website, app, CRM or storage is as safe as it can be from hacker attacks.”
For more information visit: https://capturethebug.xyz/