Rapid7 Announces the Creation of the Rapid7 Cybersecurity Foundation to Promote Access and Inclusion in Cybersecurity

Rhea-AI Summary

Rapid7, Inc. (NASDAQ: RPD) has announced the formation of the Rapid7 Cybersecurity Foundation, with an initial funding of $1 million. The Foundation aims to close the cybersecurity achievement gap, focusing on diversity and inclusion in the tech workforce. Its strategic grants will support STEM education, open-source tools, and advocacy for vulnerable communities. Corey Thomas, CEO of Rapid7, emphasizes that this initiative is a continuation of their commitment to social good and cybersecurity for all.

Positive

• Formation of the Rapid7 Cybersecurity Foundation with $1 million initial funding.
• Focus on diversity and inclusion in cybersecurity, aiming to democratize access to the field.
• First grant of $50,000 awarded to the Institute for Security and Technology.

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• None.

Foundation will promote a diverse and inclusive workforce, advance free and open solutions for underserved and vulnerable communities, and conduct research and advocacy that strengthens cybersecurity outcomes and awareness for all

BOSTON, April 05, 2022 (GLOBE NEWSWIRE) -- Rapid7, Inc. (NASDAQ: RPD), a leading provider of security analytics and automation, today announced the formation of the Rapid7 Cybersecurity Foundation, a 501(c)(3) private foundation receiving all of its initial $1 million in funding from Rapid7.

The Rapid7 Cybersecurity Foundation’s mission is to close the security achievement gap by making cybersecurity easier to access for the underrepresented and underserved. Its aim is to democratize cybersecurity by promoting a diverse and inclusive cyber workforce; supporting free and open security solutions; and advocating for those that often lack a voice in advancing security.

“The creation of the Rapid7 Cybersecurity Foundation is a natural extension of Rapid7’s focus on social good and our work to advance security for all,” said Corey Thomas, chairman and chief executive officer of Rapid7, and chair of the Rapid7 Cybersecurity Foundation. “Through the Foundation, we can further advance cybersecurity as a whole, with a particular focus on closing the security achievement gap in underrepresented, underserved, and under-resourced communities.”

The Foundation will invest in organizations who work in the following areas in pursuit of creating a secure and prosperous digital future for all:

• STEM education, diversity and inclusion in technology, and efforts by organizations to make careers in cybersecurity easier to access for all;
• Open source tools and volunteering to help make effective cybersecurity solutions available to under-resourced organizations, including non-profits and municipalities; and
• Research and policy advocacy to strengthen cybersecurity for vulnerable communities, improve cybersecurity awareness, and make achieving effective security outcomes more available to all.
  

After more than eight years of serving as Rapid7’s General Counsel, Peter Kaes is moving into a new role as Executive Director of the Rapid7 Cybersecurity Foundation, and also heading up Rapid7’s expanding ESG efforts. In his new role, he will leverage his passion for making cybersecurity easier to access for the underrepresented and underserved to further the impact of the Foundation.

“Work like this, that supports a larger, more diverse cyber workforce and helps under-resourced organizations defend themselves, is badly needed,” said Kelly Born, Director of the Cyber Initiative at the William and Flora Hewlett Foundation, who leads a ten-year, $130 million grantmaking effort that aims to build a more robust cybersecurity field and improve policymaking. “Too few are working to increase access, inclusion and online safety for under-served and under-represented communities. It is heartening to see companies like Rapid7 stepping into this critical space.”

The Rapid7 Cybersecurity Foundation’s grants will be strategically deployed to programs aligned with its mission. The first grant was awarded in January to the Institute for Security and Technology (IST) for $50,000 to support the organization’s Ransomware Task Force. The Foundation expects its next grants will support organizations where Rapid7 is already familiar with the needs of the community and expects to announce these grants in the coming weeks. It does not make grants outside of its funding priorities or accept unsolicited grant requests.

For more information about the Rapid7 Cybersecurity Foundation, visit www.rapid7.org.

About the Rapid7 Cybersecurity Foundation
The Rapid7 Cybersecurity Foundation is an independent, nonprofit grant-making organization with assets currently valued at $1 million. Its mission is to close the security achievement gap by making cybersecurity easier to access for the underrepresented, underserved, and under-resourced. It aims to democratize cybersecurity by promoting a diverse and inclusive cyber workforce; supporting free and open security solutions; and advocating for those that often lack a voice in advancing security. It does not make grants outside of its funding priorities or accept unsolicited grant requests. For more information, visit www.rapid7.org.

Press contact:
Kelly Crummey
Corporate Communications
press@rapid7.com
(617) 921-8089

Investor Contact:
Sunil Shah
Vice President, Investor Relations
investors@rapid7.com
(617) 865-4277

 

FAQ

What is the Rapid7 Cybersecurity Foundation?

The Rapid7 Cybersecurity Foundation is a nonprofit organization aimed at closing the cybersecurity achievement gap and making cybersecurity more accessible for underserved communities.

How much funding did Rapid7 provide to its Cybersecurity Foundation?

Rapid7 provided an initial funding of $1 million to establish the Cybersecurity Foundation.

What areas will the Rapid7 Cybersecurity Foundation focus on?

The Foundation will focus on STEM education, promoting diversity in technology, and supporting open-source cybersecurity solutions for underserved communities.

Who is the Executive Director of the Rapid7 Cybersecurity Foundation?

Peter Kaes, formerly General Counsel at Rapid7, is now the Executive Director of the Cybersecurity Foundation.

What was the first grant awarded by the Rapid7 Cybersecurity Foundation?

The first grant of $50,000 was awarded to the Institute for Security and Technology to support their Ransomware Task Force.