Bugcrowd
RepVue Score
0
Bugcrowd
Back to ReviewsFormer Employee Crowdsourced Cyber Security is an interesting concept which works for many end user companies.
Bugcrowd are one of the leading providers due to solid operational processes and a certain critical mass. They (Feb 24) received $102M of fresh investment. Expect lots of hiring.
Most of Bugcrowd customers are in the Mid Market space (< 2,500 employees) and the company is designed for this sector.
Problems to be aware of:
1. The CEO has hired about 8-10 former colleagues and doesn’t appear to value input from outside of this group. Consequently there’s an “Exec group think” and lack of innovation.
2. The market is ridiculously competitive/price sensitive as actual evidence of claimed differentiation with key competitors is hard to find.
3. It takes a decent amount of time for new reps to come up to speed. Several sell very little in their 1st 6-9 months and are thus under huge pressure from mgt. Churn helps no one.
4. I found the recent culture to be quite toxic with active moving of client accounts from the original seller. There is no appreciation of relationship capital.
5. The new investors will want rapid further growth. I expect leadership changes in poorly performing areas.
2.7
Mar 4, 2024
2 Useful
