Pcysys, a Tel Aviv, Israel-based cyber security risk validation startup, completed a $10m series-A funding round.
The round was led Awz Ventures, with participation from Blackstone.
The company, which has raised $15m to date, 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.
Founded in November 2015 by Arik Liberzon and Arik Faingold and managed by CEO Amitai Ratzon since 2018, Pcysys (an acronym for “Proactive Cyber Systems”) provides the PenTera™ platform, which uses algorithms to scan and ethically penetrate the corporate network with the latest hacking techniques, prioritizing remediation efforts with a threat-facing perspective. 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 exploited towards data theft, encryption or service disruption.
The company has 50 employees and is approaching 100 paying enterprise customers, across 15 verticals, including Banking, Insurance, Asset Managers, Retail, Energy, and Healthcare, in North America, Europe and Israel.