XBOW, an autonomous offensive security startup founded by Malta-based entrepreneur Oege de Moor, has raised $120 million in a Series C funding round, pushing the company’s valuation beyond $1 billion.
The round was led by DFJ Growth and Northzone, with participation from major investors including Sequoia Capital, Sofina and Altimeter. The latest funding brings XBOW’s total capital raised to $237 million.
De Moor, who is also known as the creator of GitHub Copilot and GitHub Advanced Security, has been based in Malta in recent years and is regarded as an active contributor to the local AI and technology ecosystem.
XBOW’s platform uses artificial intelligence to autonomously identify and validate software vulnerabilities. The system continuously tests applications using adversarial workflows designed to simulate real-world attacks.
Unlike traditional penetration testing — which is typically conducted at fixed intervals — XBOW operates continuously, aiming to keep pace with modern development cycles and increasingly sophisticated AI-powered threats.
The company says its platform is capable of executing targeted attacks and validating vulnerabilities through real exploitation, providing security teams with verified results rather than theoretical risks.
XBOW has demonstrated its capabilities through live system testing and previously reached the top of the HackerOne leaderboard, a benchmark widely used within the cybersecurity industry.
The founding team includes engineers who previously worked on GitHub Copilot, while the company’s Chief Information Security Officer, Nico Waisman — formerly of Lyft — has led efforts to train the system using input from human security researchers.
De Moor said the company was built on the premise that artificial intelligence could operate at the speed and scale required to match modern cyber threats.
The funding will be used to expand XBOW’s platform, accelerate product development and support international growth as demand for AI-driven cybersecurity solutions continues to rise.
The investment reflects a broader shift in the cybersecurity landscape, where organisations are increasingly turning to automation and AI to defend against rapidly evolving threats.
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