Pcysys, a Tel-Aviv, Israel-based cybersecurity validation company, completed a $25m Series B funding.
The round was led by Insight Partners, along with existing investors, Awz Ventures and The Blackstone Group.
The company, which has raised $40m to date, intends to use the funds to expand its sales and delivery teams in North America, EMEA, and Asia Pacific as well as continue the development of its technology.
Founded in November 2015 by Arik Liberzon and Arik Faingold and led by CEO Amitai Ratzon, Pcysys has developed PenTera, an Automated Penetration Testing platform that uses algorithms to scan and ethically attack the enterprise network with the latest hacking techniques, identifying security weaknesses with a threat-facing perspective. Running on-premise or remotely, the platform enables cost-effective remediation by focusing on the vulnerabilities that take part in a proven “kill-chain”, providing visibility to the true cybersecurity posture.
Since its market debut in mid-2018, the company has experienced substantial revenue growth year-over-year. It currently has 60 employees worldwide and hundreds of enterprise customers across more than 15 industries, including Banking, Insurance, Investment Management, Healthcare, Retail and Energy. In addition to enterprise customers, MSSPs also use PenTera, to provide remote Penetration-Testing services (PT-as-a-Service) to their clients while leveraging the platform’s remote testing capabilities, made available to support global pandemic work from home needs.