Bugcrowd is a crowdsourced security platform that connects organizations with a global community of ethical hackers. It helps businesses identify and fix vulnerabilities in their systems by running bug bounty programs, where hackers are rewarded for discovering security flaws. The platform allows companies to manage their security testing efficiently, offering various services like vulnerability disclosure programs and penetration testing. By leveraging the skills of ethical hackers, organizations can enhance their cybersecurity posture and protect sensitive data from potential threats.