Research Note: Synack, Penetration Testing as a Service (PTaaS)
Synack Corporate Overview
Synack, founded in 2013 by former NSA security experts Jay Kaplan (CEO) and Dr. Mark Kuhr (CTO), is headquartered at 303 Twin Dolphin Drive, 6th Floor, Redwood City, California 94065. The company's mission, as formally stated, is to "create technology that unleashes the best cybersecurity talent to solve the world's toughest security problems." With annual revenue between $50M-250M USD and 201-500 employees, Synack has established itself as a pioneer in crowdsourced security testing. Their innovative platform combines human intelligence from ethical hackers with artificial intelligence-enabled technology, earning them recognition as a four-time CNBC Disruptor 50 company. The company's valuation reached $500M according to recent data, with total funding of approximately $112M raised over six rounds from 28 investors. Operating globally with a presence across multiple continents, Synack protects leading financial institutions, federal agencies, DoD classified assets, and over $1 trillion in Fortune 500 revenue.
Market Services Analysis
Synack operates in five primary service areas: penetration testing as a service (PTaaS), vulnerability management, application security testing, bug bounty programs, and red team assessments. Their PTaaS offering represents a significant evolution from traditional periodic testing to continuous security validation, incorporating both AI-driven scanning and human expertise. The vulnerability management service leverages their Synack Red Team (SRT), which has grown to over 1,500 vetted security researchers across 80 countries, providing continuous monitoring and rapid response capabilities. Application security testing combines automated scanning with manual testing, offering comprehensive coverage for web, mobile, and API security. Their bug bounty program differentiates itself through a private, vetted researcher pool, ensuring higher quality submissions and reduced noise for clients. Red team assessments simulate advanced persistent threats, providing organizations with realistic attack scenarios and actionable intelligence.
Strengths
According to reviews, clients consistently praise Synack's innovative crowdsourced model, with one reviewer noting, "Synack has been a key part of our security strategy over the past several years and their crowdsourced pen testing model is an innovative way to ensure that nothing goes unnoticed." The platform's ability to combine human expertise with AI-driven technology receives particular acclaim from enterprise clients. Healthcare sector clients report significant improvements, with one noting a 14-day reduction in critical vulnerability remediation time. Federal clients appreciate the FedRAMP Moderate authorization, with one agency leader stating, "I love being able to sort of toss the schedule over the fence and say, 'hey, Synack, we need four more [assessments], what are we going to do?'—and have it happen." The quality of the Synack Red Team and their vetting process consistently receives high marks from clients across industries. The platform's comprehensive reporting and real-time visibility into testing activities stands out as a key differentiator. Clients specifically value the controlled testing environment and ability to instantly pause assessments if needed. The integration capabilities with existing security tools and workflows receives strong positive feedback.
Areas for Improvement
Client feedback indicates a desire for more granular pricing options, particularly for smaller organizations or specific testing scenarios. Some clients express the need for more detailed documentation regarding the platform's advanced features and integration capabilities. The onboarding process for new assets could be streamlined, as several clients mention initial setup complexity. There's a consistent request for more customizable reporting templates to better align with various compliance frameworks. Clients have suggested expanding the researcher pool in certain geographical regions to better support global testing requirements. The platform's API documentation could be more comprehensive, according to technical teams trying to maximize integration potential. Some clients mention that the vulnerability management workflow could be more flexible to accommodate different organizational structures. Response times for non-critical issues could be improved, according to several client reviews.
Bottom Line
Based on client feedback and market positioning, Synack emerges as a strong contender in the security testing space, though with some considerations requiring executive attention. While their innovative approach to combining AI with human expertise sets them apart, the pricing model may need adjustment to capture a broader market segment. Their track record with major enterprises and government agencies provides confidence in their ability to handle complex security requirements. However, CEOs should carefully evaluate the total cost of ownership against their security testing needs and available internal resources. The FedRAMP authorization and robust platform controls make them particularly attractive for organizations dealing with sensitive data or compliance requirements. For organizations seeking a mature, enterprise-grade security testing solution, Synack offers a compelling option, provided they can justify the investment and are prepared for the initial implementation complexity. The platform's strengths in continuous testing and quality of findings generally outweigh the noted areas for improvement, though executives should push for clearer pricing structures and implementation timelines. A thorough evaluation of their service level agreements and support capabilities is recommended before making a long-term commitment.