Cybersecurity validation company Pcysys announced Wednesday that it has completed a $25 million Series B funding round.
The round was led by US-based venture capital and private equity firm Insight Partners, along with existing investors Awz Ventures and The Blackstone Group. The Israeli company that developed the PenTera automated penetration testing platform has now raised $40 million from investors.
The latest funding will be used to expand the company’s sales and delivery teams in North America, EMEA, and Asia Pacific as well as continue the development of its technology, Pcysys said.
Pcysys’ PenTera software platform 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, according to the company.
Hundreds of security professionals and service providers around the world are said to use PenTera to perform continuous machine-based penetration tests that improve their immunity against cyber-attacks across their networks.
“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,” said Amitai Ratzon, Pcysys CEO. “This is a big day for our global customers, partners, and employees, to whom we owe our exponential growth and market leading product.”
“PenTera has revolutionized the security risk validation domain and helped our customers increase their cyber resilience,” said Arik Liberzon, Pcysys Co-Founder & CTO. “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.”
“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,” said Thomas Krane, Principal at Insight Partners. “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.”