Pcysys completes $25m Series B round

Pcysys has completed a $25 million Series B funding round led by Insight Partners, along with existing investors Awz Ventures and Blackstone Group.

The cyber security validation company, with its automated penetration testing platform PenTera, has raised $40 million to date.

The investment 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 - an acronym for proactive cyber systems - was founded in November 2015 by Arik Liberzon and Arik Faingold and is managed by chief executive Amitai Ratzon.

Since its market debut in mid-2018, it has grown to 60 employees worldwide and hundreds of enterprise customers across more than 15 industries, including banking, insurance, investment management, healthcare, retail and energy.

The PenTera 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, it offers cost-effective remediation by focusing on the vulnerabilities that take part in a proven 'kill-chain'.

Thomas Krane, principal at Insight Partners, said: "Having invested in many cyber security companies, we can identify the industry leader that can dominate the security validation space."

Co-founder and chief technology officer Arik Liberzon added: "The partnership with Insight Partners will enable us to materialise our vision of becoming the cyber security validation authority and give every enterprise the power of a Red Team at the tips of their fingers."

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