SafeHats

SafeHats (a product of InstaSafe) promises to help security conscious Enterprises, Financial Institutions and Governments to leverage the power of Security Researcher community to discover and fix critical vulnerabilities in their digital assets faster and more effectively.

The vendor says that enterprises benefit from this platform with Pay-Per-Bug model which means you pay only when the bugs are valid, rather than the efforts employed.

SafeHats' bug bounty programs help alleviate the following pains:

1) Managing an in-house security team and managing the project all by yourself

2) High number of false positive cases due to use of penetration testing tools

3) high priority cases being missed out from reports

4) Managing bug validation

5) Managing security researcher quality, engagement, etc.

The company says it enables white-hat hackers (researchers) across the globe to gain recognition:

a) By leveraging their skills

b) Attaining monetary benefits from the platform

SafeHats rewards the researchers for the bugs identified based on the priority and criteria of the bugs.

SafeHats says it's the first India-based bug bounty platform aiming to tap the global security testing market ($3.5 B USD) by leveraging a huge talent pool of white hat security researchers.

The company says they are featured in "GARTNER- Market Guide for Application Crowd-testing services".