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As 2024 winds down, the rush toward 2025 is in full swing. Companies everywhere are focused on wrapping up budgets, processing final invoices, and crunching year-end numbers. In this flurry of activity, it’s easy to overlook the importance of pausing to celebrate the accomplishments of the past year. At Cobalt, 2024 has been nothing short of extraordinary—a year filled with growth, groundbreaking product innovations, and inspiring collaboration.
Key Achievements
Over the past year, we continued to prove that we are the industry leader in PTaaS. For the third year in a row, Cobalt was named an “Outperformer” in GigaOm’s 2024 Radar Report for PTaaS. To maximize impact, security teams must shift investment in penetration testing from point-in-time assessments to a recurring approach, combining automated and human-powered testing, aligning with the pace of modern business and an ever-changing cyber threat landscape. By automating and streamlining security testing processes, PTaaS can significantly reduce the costs associated with traditional penetration testing methods. It also helps organizations maintain ongoing compliance with various regulatory requirements by providing regular, comprehensive security assessments and detailed reporting. For more information please download the report.
In addition to our industry accolades and professional collaborations, we saw increased demand for our programmatic approach to offensive security. Cobalt focused on more offensive security services, the continuous attack surface visibility, better findings flows into partner platforms, and a more connected platform experience.
We saw year-over-year growth in the following areas:
- AI & LLM Pentesting:
- 74% increase in credit spend
- Digital Risk Assessments (DRA):
- 225% increase in the number of Digital Risk Assessments
- IOT:
- 17% growth in the number of pentests on IoT devices and a 40% growth in credit consumption as customers require more comprehensive testing of the entire IoT ecosystem from hardware to applications to the cloud.
We added Dynamic Application Security Testing (DAST) in March 2024 as an additional layer of security testing, to continuously detect vulnerabilities in between pentests. We've seen steady adoption across our customer base of users adding Attack Surface Monitoring (ASM) and DAST to continuously monitor their environment and inform AppSec practices. We've also continued to iterate, rapidly adding more functionality including stand-alone API scanning, more granular controls, and robust integrations with Cobalt DAST. As part of our comprehensive offensive security platform, findings from all of Cobalt's services including Pentests, DAST, Secure Code Review, Digital Risk Assessments, and Attack Surface Monitoring scans are aggregated into one view, giving your teams one place to look to find and fix all the vulnerabilities discovered by Cobalt.
Successful Events
2024 was a year of extraordinary collaboration and connection for Cobalt as we showcased our presence at key industry events, building relationships and sharing insights with the broader cybersecurity community. At RSAC in San Francisco, we were thrilled to host live demos of our platform while giving back to the community by donating to *Students Rising Above* for every demo completed. Similarly, at Infosecurity Europe, attendees could explore the Cobalt Platform, gain expert insights, and grab a free sample of our notorious *State of Pentesting Report 2024* (the 2025 report is coming all too soon!).
Our participation at Black Hat 2024 was another major highlight. From showcasing live demos to a fun-filled meet-up with the incredible Cobalt Core team at Atomic Golf—where some members traveled over 30 hours to join us—we celebrated the power of global collaboration.
Throughout the year, we strengthened relationships with our valued partners and connected with talented pentesters who are at the heart of our community. These interactions exemplify the vibrant, supportive network that defines Cobalt, and we’re excited to continue growing this amazing community in 2025.
Community and Culture
This past year, we proudly celebrated the exceptional contributions of our employees in various key areas that focus on our high-performance culture and continue to prioritize a culture of continuous learning and growth. Our learning and development program has seen remarkable engagement, with many of employees seizing opportunities for professional growth through workshops, mentorship programs, and online courses. Our staff’s commitment to personal and professional development enhances both employee and customer experiences. It fortifies the values of our organization—evidenced by the 16 promotions we celebrated.
This year, we introduced a new monthly recognition award program naming the next Rising Stars and Customer Champions. Teammates also received #kudos from their peers, highlighting how their daily efforts have significantly impacted them. We want to make a special shout-out to the Customer Success Team, Foundations Team, and Marketing Team for their remarkable contributions and for living out our core value of One Cobalt. We proudly celebrate 38 exceptional employees who truly embody the spirit of the next Rising Stars, Kudos Recipients, and served as genuine champions for our customers.
We are dedicated to fostering a culture that prioritizes health and well-being for all through our wellness programs. Cobalt introduced Urban Sports Club as a new wellness benefit for our employees in Germany, tailored to the interests expressed by our team.
We also hosted our annual step challenge for the second consecutive year. Together, we logged an incredible 25,180,541 steps, with 104 Cobalters participating from all departments, stepping around the globe. Team Cobalt’s enthusiasm and commitment to staying active truly makes a difference, and we celebrate each Cobalter for contributing to this fantastic achievement.
We want to highlight those who have embraced our volunteer time off program, making a meaningful impact in their local communities. A special shoutout goes to our BDR team, who in October pledged to donate to Breast Cancer prevention partners for every demo booked.
From Dublin to Boston, and San Francisco to Berlin, #cobalt-in-person united our employees to connect and collaborate as they traveled the globe in 2024. Along the way, they forged strong relationships, whether cheering on the Denver Nuggets at the marketing offsite, dancing to DJ Grayson at the product and engineering offsite, or playing Pakkeleg at the annual Julefrokost. We are deeply grateful for our employees, and as we look to the future, we are committed to realizing what’s possible in 2025 by operating fearlessly and innovating securely. Here’s to even greater victories ahead!
Looking Ahead to 2025
As we step into 2025, we’re embracing bold ambitions and an optimistic vision for the future. The challenges of an ever-evolving cybersecurity landscape inspire us to think bigger, innovate smarter, and deliver solutions that truly matter.
At Cobalt, we’re on the right track. We’re navigating a world of rapid change with purpose and clarity. Our commitment remains steadfast: to provide offensive security solutions that are not only efficient and effective but also adaptive to the needs of our customers.
As we look ahead to 2025, we're thrilled to focus on integrating offensive and defensive security measures in a world where AI and automation take center stage. Penetration testing and red teaming are evolving to complement these advancements, offering an irreplaceable human perspective that ensures deeper, smarter security.
Skilled testers bring adaptive thinking and nuanced analysis, uncovering vulnerabilities and validating automated defenses in ways that technology alone cannot. This human element is vital to making secure-by-design initiatives and zero trust frameworks truly robust, closing gaps that might otherwise be overlooked.
By combining the precision of AI-driven tools with the creativity and expertise of seasoned professionals, organizations can reduce security debt, enhance resilience, and stay a step ahead of increasingly sophisticated threats. 2025 promises a new era of collaborative, comprehensive security—and we’re excited to lead the way.
Closing Thoughts
As we turn the page on 2024, we’re energized by the opportunities and challenges that lie ahead in 2025. The successes of this year—our growth, innovations, and partnerships—are a testament to the incredible team at Cobalt and the unwavering trust of our customers, partners and community.
2024 has been a remarkable year, and we want to extend our heartfelt gratitude to our partners, customers, and the Cobalt Core. Your support, trust, and feedback have been instrumental to our success. We are deeply thankful and excited for what’s ahead in 2025.
Together, we’ll continue to push the boundaries of cybersecurity, deliver exceptional value, and build a more resilient and innovative world.
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