Pomegra
Amsterdam-based Hadrian raised $40 million to scale its agentic AI offensive security platform across EMEA and the US, bringing total funding to $65 million.
Key Takeaways
- Hadrian raised $40M, co-led by Forgepoint Capital International and Smartfin, on October 6, 2026.
- Total funding reaches $65M; valuation is undisclosed.
- Proceeds go to EMEA and US expansion and to engineering and research hiring.
Lead
Hadrian, the Amsterdam-based offensive security company, announced a $40 million funding round on October 6, 2026. The round was co-led by Forgepoint Capital International and Smartfin. Existing backers HV Capital, Motive Partners, Picus Capital and Oetker Ventures also took part.
The company has now raised $65 million since its 2021 founding. It did not disclose a valuation, revenue or headcount. Some outlets describe the round as a Series B, though the company's own announcement does not name a stage.
What Does Hadrian Actually Sell?
Hadrian sells software that uses AI agents to attack a customer's systems the way a hacker would, then reports which weaknesses can actually be exploited. The platform has two products. Atlas maps a customer's external attack surface continuously and tests whether exposures are exploitable. Nova runs penetration tests on demand and shares context with Atlas.
The pitch targets two familiar weaknesses in corporate security. Annual manual penetration tests go stale within weeks. Vulnerability scanners flood teams with findings, and the company cites a figure that only 0.47% of scanner findings prove exploitable. Hadrian says it is the only vendor combining continuous exposure management and agentic penetration testing on one platform.
The company reports that customers see ten times more visibility into critical exposures, issue resolution 80% faster and a fivefold return compared with manual testing. These are vendor figures, not independently audited ones. Named customers include McKesson, NBCUniversal, TotalEnergies, Amadeus, Leroy Merlin, Damen Shipyards and Francisco Partners.
Why Is the Money Arriving Now?
The round arrives as defenders face attackers that automate more of their work. Anthropic has disclosed that criminals and state-linked groups used its models to automate entire attack chains and write zero-day exploits. Investors are betting that companies will need machine-speed testing to match machine-speed offense.
CEO and co-founder Rogier Fischer framed it the same way: AI works much faster than any human offensive security team, so Hadrian built a platform that emulates attack paths. The argument is straightforward. If an attacker can probe a company's perimeter continuously, a once-a-year audit leaves long gaps.
That reasoning also favors a crowded field. Offensive security automation and exposure management already draw competition from established vendors and startups, and the announcement names none of them. Hadrian's differentiation rests on bundling the two functions, a claim buyers will test against point products they already own.
How Does This Round Compare With Earlier Funding?
The $40 million is larger than everything Hadrian raised before it combined. The company took a €2.5 million pre-seed in 2021 and a €10.5 million seed in 2022 led by HV Capital. The new money accounts for roughly 62% of the $65 million total.
HV Capital's return is a mild positive signal, since insiders rarely re-up in a round they doubt. New leads bring cybersecurity specialist capital from Forgepoint and a European fintech and security investor in Smartfin. Smartfin partner Saumitra Dubey said the firm will back Hadrian's path to becoming a nine-figure revenue business. That phrase implies revenue well below $100 million today, though the company has not published a figure.
What Comes Next for Hadrian?
The company plans to spend on EMEA and US go-to-market expansion and on its engineering and research teams. The US push matters most. Its named customer list already skews toward American and multinational enterprises, and that is where the largest security budgets sit.
The main test is proof. Agentic penetration testing must show it can find real exploit paths without breaking production systems or burying analysts in false positives. Enterprises will also want to know how much of the work still needs a human tester to validate. Hadrian's founders include a chief hacking officer, Olivier Beg, which suggests the company expects humans to stay in the loop.
Outlook
Hadrian enters its next phase with $65 million raised, a two-product platform and a customer list of large enterprises. Valuation, revenue and customer count remain undisclosed, so the scale of the business is hard to judge from outside. The round fits a broader pattern of capital moving toward automated offense as a defensive tool. Whether Hadrian can turn that demand into the nine-figure revenue its investors describe depends on how its agents perform against real enterprise environments.
