- Cybersecurity risk validation company Pcysys announced it raised $10 million in funding from Canadian VC, Awz Ventures, and Blackstone
Pcysys — a cybersecurity risk validation company known for developing a platform for Automated Penetration Testing — announced it has completed a $10 million Series A round of funding from Canadian VC, Awz Ventures, and Blackstone. Including this round of funding, Pcysys has raised $15 million in total funding.
Launched in November 2015 by Arik Liberzon and Arik Faingold, Pcysys (an acronym for “Proactive Cyber Systems”) has 50 employees and is close to hitting 100 paying enterprise customers across 15 verticals like banking, insurance, asset management, retail, energy, and healthcare.
“We are honored to have Awz and Blackstone supporting us in this round of funding, sharing our vision of continuous risk validation,” said Pcysys CEO Amitai Ratzon. “Our customers have been investing millions in defense technologies, without the ability to effectively validate against the real threat. PenTera has finally made this possible, paving the way to revolutionizing risk validation, as we know it today. Pcysys intends to use the additional funding to expand its sales and support functions in North America and EMEA and to further develop its enterprise-grade technology.”
Pcysys’ PenTera platform automates red teaming and penetration testing activities. Plus it uses algorithms to scan and ethically penetrate the corporate network with the latest hacking techniques, , prioritizing remediation efforts with a threat-facing perspective. And the platform enables organizations to focus their remediation efforts on the vulnerabilities that take part in a damaging “kill-chain” without the need to chase down thousands of vulnerabilities that cannot be truly exploited towards data theft, encryption, or service disruption.
“Our Blackstone Innovations technology team is a strong believer in automating risk validation and believes that the PenTera platform will evolve to become a market leader in the years to come,” added Blackstone CISO Adam Fletcher. “We’ve seen firsthand the benefits of the Pcysys Platform in our day-to-day vigilance in keeping our cybersecurity defenses challenged and tuned.”
Awz is a Canadian hub for investments in cybersecurity, intelligence, and physical security AI-based technologies from Israel.
“Since our first investment in 2017, Awz has believed in the Pcysys management team and the company’s compelling value proposition”, explained Awz Ventures Founder and Managing Partner Yaron Ashkenazi. “We are proud of Pcysys and the incredible progress that they made in such a short period of time. We were delighted to also lead this series-A fundraising round and we believe the company will continue to build on its success. Together with our new partner, Blackstone Innovation, we are confident Pcysys can become a global leader in the field of cybersecurity and risk validation.
