Hadrian, an Amsterdam-based offensive cyber startup, has raised US$40m to expand its security platform across the US and EMEA. The company said the round brings its total funding to US$65m and will support engineering and research investment.
The round was co-led by Forgepoint Capital International and SmartFin. Existing investors HV Capital, Motive Partners, Picus Capital and Oetker Ventures also participated, according to the source report.
Hadrian combines continuous exposure management with agentic penetration testing. Its platform is organized around Atlas, which maps an organization’s external attack surface, and Nova, which provides on-demand penetration testing.
How the Offensive Cyber Startup Describes Its Platform
Atlas uses purpose-built AI agents to validate which exposures are exploitable, the report says. Nova offers what the company describes as agentic testing at a human-pentest level and beyond. Hadrian says sharing context between the two tools lets teams move from ongoing visibility to deeper testing without starting over.
The company says its platform emulates hackers’ attack paths so customers can understand risks and prioritize security resources. Hadrian also describes itself as the only vendor combining these capabilities. That exclusivity statement is the company’s claim, not an independently established comparison in the report.
Hadrian cited three performance figures for its tools: 10x greater visibility into critical exposures, 80% faster time to resolution and 5x ROI compared with manual penetration testing. Those are company-reported results; the source does not provide a study method or a customer-level breakdown.
The offensive cyber startup’s funding follows a period in which the source describes growing attention to AI-related security concerns. It cites a Loss of Control Observatory analysis that recorded 11.3 incidents per day during the 30-day period ending 7 August, above a previous peak of 10.5 a day in March. The incidents mostly involved externally deployed models in active use, rather than the recent cases disclosed by OpenAI and Anthropic.
Investors Back Expansion Plans
Hadrian plans to use the new capital to expand in the US and EMEA and deepen investment in engineering and research. The source does not give a timetable or a breakdown of spending between those priorities.
Forgepoint Capital International Managing Director and Partner Damien Henault said security teams face too many vulnerabilities and too much noise to manage. He said tools can help them identify issues and think about risks posed by AI-armed hackers.
SmartFin Partner Saumitra Dubey pointed to Hadrian’s enterprise contract values, global customer base and enterprise retention rates as evidence of product strength and execution. These are investor assessments reported in the article, not independently measured figures in the supplied material.
Hadrian was co-founded by CEO Rogier Fischer while he was an MBA student at London Business School. Fischer and Chief Hacking Officer Olivier Beg met in an online forum in 2009, when they were 13, the source says. The company says the pair later worked as white-hat hackers for Dutch banks and global technology companies.
Fischer said AI can work faster than human offensive security teams and that Hadrian built tools to emulate attack paths. The next stated step is the company’s planned expansion across the US and EMEA, backed by the new funding.
Readers following technology financing can also see ValiantCEO’s coverage of MOSI’s Pre-A funding, TypeSafe AI’s funding round and RevRag AI’s seed funding. Those are separate company announcements.
The source report provides details on Hadrian’s funding, product claims and expansion plans.
