Bugcrowd Appoints David Castignola as Chief Revenue Officer
Industry veteran to scale and diversify revenue initiatives, grow partner ecosystem as Bugcrowd accelerates growth across its product lines, channels and world-wide geographies
SAN FRANCISCO — October 6, 2020— Bugcrowd, the crowdsourced cybersecurity platform, today announced the appointment of David Castignola as Chief Revenue Officer (CRO). Castignola’s appointment is part of Bugcrowd’s larger strategy to help its customers address broader security challenges across the security lifecycle from a single crowdsourced security platform. As CRO, Castignola will be responsible for Bugcrowd’s overall revenue generation engine, overseeing the company’s global sales and partner channel teams. Castignola will report to Ashish Gupta, CEO, Bugcrowd.
“David brings a unique combination of cybersecurity and CRO expertise to this role, he will play a key role in further accelerating our growth, expanding our ecosystem and ensuring customers build strong security postures,” said Gupta. “We are thrilled to bring him on board as we expand the Bugcrowd platform and add new products that address a broader spectrum of security use cases and enable channel partners to seamlessly deliver compelling value-added solutions for vulnerability identification and remediation. ”
Castignola joins Bugcrowd after exceptional growth in the second quarter of fiscal year 2021, driven by a 133% increase in bookings in its international segment and an increase of more than 50% in international customers despite the downturn brought on by COVID-19. The company also saw 49% growth in the number of MVP researchers, more than a 60% jump in programs under management, and reported 86% more critical vulnerabilities compared to the same period last year.
“The Bugcrowd team has done a tremendous job growing the business to where it is today, and I look forward to playing a key role in accelerating that growth and expanding and diversifying the company’s go-to-market strategy,” said Castignola. “Cybersecurity is at an inflection point. Today’s chief information security officers are facing an exponential increase in threat actors and attack vectors, while also facing a tremendous shortage of skilled labor to keep their organizations safe. Bugcrowd helps companies address this seemingly intractable challenge by providing priority access to a global marketplace of on-demand, highly specialized cybersecurity experts–all from a single, intelligent platform. I am excited to work with Bugcrowd’s current and future customers and partners to accelerate the adoption of crowdsourced security and keep our digitally connected world safe.”
Proven Industry Leader
Castignola was most recently Chief Operating Officer at Blackberry Cylance. He joined Cylance as Chief Revenue Officer in 2018 and subsequently helped lead the sale of the company to BlackBerry in February 2019. Prior to Cylance, he was named as the first Chief Revenue Officer at Optiv, a $2.5 billion security systems integrator, where he implemented a new go-to-market structure and segmentation, doubling growth to 35%. For 10 years prior to Optiv, Castignola served as the Senior Vice President of World Wide Sales with RSA, a security division of EMC, with $1+ billion in sales revenues and recognized as one of the world’s most prestigious cyber security companies with 60+ product, services, and solutions, 1,200+ employees, and 30,000+ customers spanning 40 countries, including more than half of the global Fortune 500 organizations.
“We are very excited about David’s appointment as CRO of Bugcrowd,” said David Gerry, Chief Revenue Officer & Head of Global Operations, WhiteHat Security. “WhiteHat and Bugcrowd are natural complements, with WhiteHat delivering a full suite of application security services globally and Bugcrowd providing the leading crowdsourced security platform. Together, we have the ability to help our customers implement a layered security approach that makes their cyber defenses even stronger. We look forward to working with David and the rest of the Bugcrowd team to expand our partnership and address even more use cases.”
Prior to joining RSA in 1997, David’s early career includes serving in Account and Territory Management roles with several other entities where he led efforts to successfully identify and capture new business opportunities. David earned his Bachelor of Arts in Communications from Michigan State University in 1987.
About Bugcrowd
Bugcrowd is the #1 crowdsourced security company. Top Fortune 500 organizations trust Bugcrowd to manage their Bug Bounty, Vulnerability Disclosure, Next Gen Pen Test, and Attack Surface Management programs. Bugcrowd’s award-winning platform combines actionable, contextual intelligence with the skill and experience of the world’s most elite hackers to help leading organizations identify and fix vulnerabilities, protect customers, and make the digitally connected world a safer place. Based in San Francisco, Bugcrowd is backed by Blackbird Ventures, Costanoa Ventures, Industry Ventures, Paladin Capital Group, Rally Ventures, Salesforce Ventures and Triangle Peak Partners. Learn more at www.bugcrowd.com.
“Bugcrowd” is a trademark of Bugcrowd Inc. and its subsidiaries. All other trademarks, trade names, service marks and logos referenced herein belong to their respective companies.
Contacts:
Allison Arvanitis
Lumina Communications for Bugcrowd
allison@luminapr.com
910-690-9482
