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Web apps are the foundation of modern business workflows, powering tools for expense reporting, CRM, timesheets, and more. Their speed, scalability, and accessibility make them appealing. Companies within a PE firm's portfolio often sell their offerings to one another, amplifying their impact. But these same characteristics can introduce security gaps if web apps are not carefully tested.
“When portfolio companies sell web apps to one another, a single vulnerability can put the whole portfolio at risk,” said David E. Williams, CEO of Atumcell. “These apps are often built by outsourced teams that do solid work, but that typically lack deep security expertise. That’s where penetration testing by a third party comes in.”
The paper walks through the real-world risks found in web apps, drawing on actual findings from Atumcell’s engagements with mid-market portfolio companies. Common issues include misconfigured access controls, insecure password reset flows, and unauthenticated access to sensitive data. These flaws can lead to full system compromise, financial losses, data breaches, and regulatory non-compliance.
“We routinely find issues like broken object-level authorization, insecure APIs, and exposed secrets that automated scanners simply miss,” said Matthew T. Carr, Head of Research & Technology at Atumcell. “A proper penetration test replicates the tactics of real-world attackers by manipulating request payloads, bypassing frontend controls, and chaining vulnerabilities together. These aren’t theoretical risks; they’re the kinds of issues that can quietly undermine otherwise strong security programs.”
Key highlights from the white paper include:
--Real-world examples of flaws identified in production web apps used by portfolio companies
--Analysis of how shared internal tools—like HR or finance apps—can create systemic risk if not properly tested
--Guidance on selecting a web app pentest partner, including how to integrate testing into the development lifecycle
Atumcell specializes in expert-led, in-depth penetration testing tailored to the needs of fast-growing, digitally transforming companies. The firm’s collaborative approach ensures that findings are meaningful, actionable, and resolved quickly—often working directly with in-house development teams.
Most standalone web app penetration tests cost between $10,000 and $25,000.
For a full copy of Web App Penetration Testing: A Must for Private Equity Portfolio Companies., visit https://atumcell.com/whitepapers or contact Atumcell.
About Atumcell
Atumcell provides a comprehensive cybersecurity operating system designed to meet the unique needs of private equity firms and their portfolio companies. With innovative tools and a strategic approach, Atumcell helps clients perform due diligence, protect their assets, enhance security maturity, and mitigate the risks of cyber threats. Atumcell’s advanced penetration testing offers comprehensive validation of security measure for PE firms and portfolio companies. Atumcell was named Top Penetration Services Company of 2025 by Cyber Security Review.
David E Williams
Atumcell Inc
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