Engagement — Platform Due Diligence
Code & Co. provides AI & Tech Due Diligence to Deutsche Beteiligungs AG ahead of its investment in Bug Bounty Switzerland, a cyber resilience platform combining ethical hacking with AI-driven security testing.
Deutsche Beteiligungs AG (DBAG) has acquired a minority stake in Bug Bounty Switzerland AG (BBS). BBS, headquartered in Lucerne, is the Swiss pioneer for ethical hacking, intelligent security testing and the service-as-software model. With its Cyber Resilience Shield security platform, BBS enables its customers to conduct continuous, scalable security assessments of their entire exposed attack surface, without internal specialists or fragmented point solutions. DBAG has invested alongside lead investor Direttissima Growth Partners, a European growth equity investor based in Zurich and Munich.
Scope of work
Code & Co. advised Deutsche Beteiligungs AG on AI & Tech Due Diligence through an in-depth evaluation of the Bug Bounty Switzerland platform, covering its AI-driven security testing capabilities, software architecture, and product strategy.
The assessment further examined the underlying technology stack, cloud infrastructure, scalability, and cybersecurity and cyber resilience practices. It concluded with a review of Bug Bounty Switzerland’s engineering organization, software development lifecycle, and key considerations for supporting continued product development and growth.
About Bug Bounty Switzerland
Bug Bounty Switzerland is the leading platform for AI-driven and data-powered security testing. With its Cyber Resilience Platform, it enables enterprises to run continuous, scalable, and easily accessible security tests – always-on, plug-and-play. At its core stands the Cyber Resilience Shield: a virtual shield that combines ethical hacking with AI to uncover vulnerabilities faster, more precisely, and more efficiently than traditional methods. The platform orchestrates the targeted engagement of over 16,000 vetted ethical hackers, powered by real-time threat intelligence and autonomous AI agents. Based in Lucerne, Zurich, and Bern, Bug Bounty Switzerland employs an interdisciplinary team of 20 experts, helping leading organizations worldwide strengthen their digital resilience. To learn more, visit bugbounty.ch.
About Deutsche Beteiligungs AG
Deutsche Beteiligungs AG is a listed private equity company. More than 400 investments, around 2.7 billion euros in assets under management or advisory, and more than 60 years of experience. A DBAG share provides access to a portfolio of unlisted companies and, at the same time, to a successful fund advisory business. With individual equity capital solutions ranging from 10 to 200 million euros, DBAG offers a broad spectrum of solutions for mid-sized companies. DBAG considers itself a strategic partner to its portfolio companies, with trusting, reliable relationships with all of a company’s stakeholders. For more information, visit dbag.com.
About Direttissima Growth Partners
Direttissima Growth Partners is a European growth equity investor based in Zurich and Munich, with operational scale-up experience in B2B technology. Direttissima served as the lead investor in the Bug Bounty Switzerland capital increase alongside Deutsche Beteiligungs AG. Further information at direttissima.com.