- Cybersecurity validation company Pcysys has announced that it has completed a $25 million Series B round of funding led by Insight Partners
Cybersecurity validation company Pcysys has announced that it has completed a $25 million Series B round of funding led by Insight Partners along with existing investors Awz Ventures and The Blackstone Group. The company — which is known for developing the Automated Penetration Testing platform PenTera — has raised $40 million since being founded. This round of funding will be used for expanding the company’s sales and delivery teams in North America, EMEA, and the Asia Pacific as well as continue the development of its technology.
Pcysys (an acronym for “Proactive Cyber Systems”) launched in November 2015 by Arik Liberzon and Arik Faingold and is managed by CEO Amitai Ratzon. And since its market debut in mid-2018, the company experienced substantial revenue growth year-over-year. Now Pcysys has 60 employees worldwide and hundreds of enterprise customers across more than 15 industries, including Banking, Insurance, Investment Management, Healthcare, Retail, and Energy.
Pcysys’ PenTera software platform uses algorithms to scan and ethically attack the enterprise network with the latest hacking techniques, thus identifying security weaknesses with a threat-facing perspective. And running on-premise or remotely, the platform enables cost-effective remediation by focusing on the vulnerabilities that take part in a proven “kill-chain,” which provides visibility to the true cybersecurity posture.
Along with enterprise customers, MSSPs also use PenTera to provide remote Penetration-Testing services (PT-as-a-Service) to their clients while utilizing the platform’s remote testing capabilities, made available to support global pandemic work from home needs.
“We are proud and excited to have Insight Partners as a key investor together with the continued trust of The Blackstone Group and Awz Ventures. This is a big day for our global customers, partners, and employees, to whom we owe our exponential growth and market leading product.”
— Pcysys CEO Amitai Ratzon
“The Pcysys team and PenTera as a product align perfectly with our mission to invest in the most advanced software ScaleUps in order to accelerate growth. Having invested in many cybersecurity companies, we can identify the industry leader that can dominate the security validation space. PenTera is revolutionizing how enterprises manage risk validation in the enterprise, and we look forward to working alongside Amitai and the team to scale.”
— Thomas Krane, Principal at Insight Partners
“PenTera has revolutionized the security risk validation domain and helped our customers increase their cyber resilience. The partnership with Insight Partners will enable us to materialize our vision of becoming the cybersecurity validation authority and give every enterprise the power of a Red Team at the tips of their fingers.”
— Arik Liberzon, Pcysys Co-Founder & CTO
“Awz is very proud of the milestones Pcysys has reached since our seed investment in 2016. We feel privileged to have been part of the journey, assisting Pcysys in its initial penetration to the North American market, leading their Series A alongside The Blackstone Group, and now welcoming a prestigious, strategic investor – Insight Partners.”
— Yaron Ashkenazi, Managing Partner of Awz Ventures