Patchstack Secures $5M in Series A Funding

Patchstack, a leading WordPress security company, recently raised $5 million in its Series A funding round. The funding round was led by Karma Ventures, G+D Ventures, and Emilia Capital, an investment firm backed by Yoast founders Marieke van de Rakt and Joost de Valk.

“With the Series A, we plan to accelerate Patchstack product development and build a top-level sales and marketing team,” said Patchstack’s co-founder and CEO, Oliver Sild. He believes Patchstack could “potentially hyper-automate the entire open-source software security process.”

In 2022, the company received a €2.7M R&D grant from the European Innovation Council. Earlier this year, Patchstack was also selected by Google for its AI for Cybersecurity accelerator program, leveraging its vast dataset—the largest in the world of open-source security vulnerabilities.

The company’s managed VDP platform, developed in collaboration with the European Union, is free for all plugin and theme developers and helps projects comply with the upcoming European Cyber Resilience Act.

Last year they published 76% of all known WordPress-related security vulnerabilities and became the largest CVE (Common Vulnerabilities and Exposures) Naming Authority by volume in 2023. Their Zero-Day Bug Bounty Program awarded the highest bounty in WordPress history – $14,400- to John Blackbourn, who exposed a critical vulnerability in the LiteSpeed Cache plugin last month.

“I have been following Patchstack’s progress for some time, have had many great discussions with Oliver, and think that the team is on a noble and exciting mission to protect users of open-source technologies from cyber threats,” said Kristjan Laanemaa from Karma Ventures.