$40m · Other round · Cybersecurity · Amsterdam, Netherlands
Amsterdam-based Hadrian has raised $40m in a funding round co-led by Forgepoint Capital International and SmartFin, with existing investors HV Capital, Motive Partners, Picus Capital and Oetker Ventures also participating. The company says the financing brings its total raised to $65m and will support expansion across EMEA and the US, alongside further investment in engineering and research.
Hadrian builds offensive-security software that tests an organisation from an attacker's perspective. Its Atlas product continuously maps internet-facing assets and validates which exposures are exploitable, while Nova runs deeper agentic penetration tests against selected applications and APIs. Hadrian says human specialists review novel findings before customers receive the evidence and remediation guidance.
From findings to verified risk
The commercial problem is less about producing another list of vulnerabilities than reducing the work between a signal and a fix. External infrastructure changes continuously, and scanner alerts can leave security teams deciding which findings are real, reachable and urgent. Hadrian's platform connects asset discovery, exploitation evidence, remediation and retesting in one workflow, so a confirmed risk can remain attached to the context needed to resolve it.
That shared context also links Hadrian's two products. Atlas provides breadth across a company's exposed footprint; Nova adds depth for applications that need focused testing. A customer can therefore move from continuous monitoring to an on-demand pentest without rebuilding the target map for each engagement. The company says customers have gained tenfold visibility into critical risks, achieved five times the return on investment of manual pentesting and reduced resolution time by 80%. Those are company-reported results, not independently audited benchmarks.
Expansion depends on enterprise trust
Hadrian names McKesson, NBC Universal, Francisco Partners, TotalEnergies, Amadeus, Leroy Merlin and Damen Shipyards among its customers. In the company announcement, executives from Leroy Merlin and Damen describe using the platform to find unknown exposures and focus teams on risks that attackers could actually exploit. Sifted also reports that chief hacking officer Olivier Beg was previously ranked the top white-hat hacker on HackerOne.
The expansion case rests on turning that technical credibility into repeatable enterprise adoption. More automated testing can increase coverage and frequency, but buyers still need controlled scope, evidence they can inspect and confidence that testing will not create new operational risk. Hadrian says Nova shows its reasoning, attack paths and reproduction steps while keeping people responsible for the difficult judgment calls. The $40m round gives the company more resources to develop that model and take it into additional markets; the execution test is whether it can preserve trust and useful signal as deployments scale.
