Climb Channel Solutions partners with Bugcrowd for cybersecurity

EATONTOWN, N.J. - Climb Channel Solutions, a subsidiary of Climb Global Solutions, Inc. (NASDAQ:CLMB), announced Wednesday a new North American distribution agreement with Bugcrowd, a crowdsourced cybersecurity platform provider. The company, which has demonstrated robust financial health according to InvestingPro data, has achieved impressive revenue growth of 42% in the last twelve months while maintaining strong cash flow management.

The partnership will allow Climb to offer Bugcrowd’s security solutions to its network of over 7,000 resellers, expanding its cybersecurity portfolio. Bugcrowd’s platform connects organizations with security researchers and ethical hackers to identify and address vulnerabilities in digital systems.

Through this collaboration, Climb will distribute Bugcrowd’s services including vulnerability detection, penetration testing, attack surface management, and Red Team as a Service (RTaaS).

"Bugcrowd brings a truly differentiated approach to the cybersecurity landscape," said Dale Foster, CEO of Climb Channel Solutions, in the press release. "As threats evolve, so must the solutions we deliver."

Jacques Lopez, Vice President of Global Channel and Alliances at Bugcrowd, stated the partnership would extend the reach of their security platform to more businesses seeking to improve security resilience.

Bugcrowd’s platform integrates a global network of security researchers with AI-powered tools for vulnerability detection and reporting, designed to help organizations strengthen security defenses across various industries and technological environments.

The agreement addresses growing demand for proactive security solutions as cyber threats become increasingly complex, according to the company statement.

In other recent news, Climb Global Solutions reported impressive financial results for the first quarter of 2025, with earnings per share (EPS) of $0.81, surpassing analysts’ expectations. The company recorded a 49% year-over-year increase in revenue, reaching $138 million. This strong performance was driven by strategic partnerships and innovation initiatives, which have contributed to significant growth in both gross billings and net sales. Additionally, Climb Global Solutions held its 2025 Annual Meeting of Stockholders, where five directors were elected to the board, and Deloitte & Touche LLP was ratified as the company’s independent registered public accounting firm for the fiscal year.

In a separate development, the company announced the departure of its Chief Information Officer, Vito Legrottaglie, who will continue as a consultant under a separation agreement. This agreement includes cash compensation and the accelerated vesting of shares and restricted stock units. Climb Global Solutions also continues to expand its market presence in the U.S. and Europe, with a focus on organic growth and strategic acquisitions. The company’s recent partnership with cybersecurity firm Darktrace is expected to contribute to its growth trajectory.

These developments reflect Climb Global Solutions’ ongoing efforts to navigate the competitive landscape of technology distribution while maintaining transparency with shareholders. The company’s robust financial performance and strategic direction have been well-received, as evidenced by the recent earnings results and shareholder meeting outcomes.

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