Israeli Insight Partners Leads $25 Million Series B Round in Automated Penetration-Testing Company Pcysys

Israeli Insight Partners Leads  Million Series B Round in Automated Penetration-Testing Company Pcysys

Israeli cybersecurity company Pcysys Ltd. announced on Wednesday that it had completed a $25 million series B financing round led by Insight Partners. Other participants include Canadian venture capital fund AWZ Ventures and U.S.-based The Blackstone Group. The company has so far raised a total of $40 million.

Pcysys, an acronym for Proactive Cyber Systems, was founded in 2015 by Arik Faingold and Arik Liberzon. It is managed by CEO Amitai Ratzon. The company developed an automated penetration-testing platform that assesses and reduces corporate cybersecurity risks.

The company said it currently has hundreds of clients, all large organizations, spread out across Israel, the U.S., and Europe and operating in more than 15 industries, including banking, insurance, investment management, healthcare, retail, and energy. Its well-known clients include internationally known brands such as communications companies IP Telecom and Teracom AB, as well as health services providers like NHS Royal Bolton Hospital, Swiss healthcare foundation, Wagerenhof, and Apria Healthcare.

Pcysys’s PenTera automated penetration-testing platform assesses and reduces corporate cybersecurity risk by identifying, analyzing, and remedying breachable vulnerabilities. Its uniqueness lies in its use of ethical hacking techniques rather than the more commonly used simulation method.

The company emphasizes that its platform eliminates the need for human intrusion testers and physical access to customer facilities, allowing it instead to focus on remedying exploitable vulnerabilities. PenTera doesn’t require the installation of software agents and relies on advanced, agentless, technology.

Pcysys said it plans to recruit 80 additional employees by the end of 2021, 70% of them in Israel.

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