Israeli cybersecurity startup Pcysys announced Wednesday that it had completed a $10 million series A funding round led by Canadian VC, Awz Ventures, along with Blackstone.
The company, which has developed a platform for Automated Penetration Testing, has raised $15 million to date.
Pcysys (an acronym for “Proactive Cyber Systems”), was founded in November 2015 by Arik Liberzon and Arik Faingold, and has been managed by CEO Amitai Ratzon since 2018. 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.
Pcysys’ PenTera platform, which Automates red teaming and penetration testing activities, 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 truly exploited toward 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,” said 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.”
“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.”