Xbow raises $155M Series C at $1.32B for autonomous pentesting

The round started on March 18 with $120M led by DFJ Growth and Northzone, at a valuation above $1B. The $35M added on May 6 came from Accenture Ventures, DNX Ventures, Liberty Global Tech Ventures, NVentures, Samsung Ventures and SentinelOne's venture arm. Each is a customer, reseller or integration partner. Public sources describe the valuation only as "above $1B", so the $1.32B figure comes from the TechCrunch list and not from company materials. The product runs thousands of autonomous agents that probe software continuously, in place of periodic manual pentests. Its credibility rests on topping HackerOne's U.S. leaderboard in 2025, with 1,060 validated vulnerabilities in 90 days. Horizon3.ai raised a $250M Series E at a valuation above $2B, so the category has other well-funded players. For AI founders, the round shows a go-to-market pattern: the buyers and channel partners also put money in. For a startup selling into enterprises, that can mean distribution (Accenture's managed services) and credibility arrive with the cap table. It also shows that public benchmark results, such as leaderboard rankings, can help win large customers when pricing is quote-only.