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Pentera, which was formerly known as Pcysys, was valued at 1 billion dollars in its latest funding.
FREMONT, CA: Pentera, an Israeli cybersecurity company, announced the completion of a 150 million dollars Series C round with a 1 billion dollars valuation on 11, January, 2022. Half of the funds will be used in secondary transactions to acquire shares from veteran employees, managers, and investors, while the other half will be deposited into the company's account. Pentera, formerly known as Pcysys, creates an automated penetration-testing platform for assessing and mitigating corporate cybersecurity risks. K1 Investment Management led the round, with Evolution Equity Partners and Insight Partners also participating.
Currently, Amitai Ratzon, CEO of Pentera, is managing the company which was founded by Arik Faingold and Arik Liberzon in 2015. In December, 2021, Pentera registered 97 deals in 22 countries, generating 7 million dollars in new revenue. Ratzon told Calcalist that their quarterly revenue is approaching 20 million dollars. Most cyber firms analyze networks but do not perform penetration testing, which identifies vulnerabilities. In September, 2021, they released a new ransomware product that can predict which ransomware attack a client will face.
Pentera's automated penetration-testing platform assesses and reduces corporate cybersecurity risk by detecting, analyzing, and repairing breachable vulnerabilities. Its distinguishing feature is that it employs ethical hacking techniques rather than the more commonly used simulation method. The company emphasizes that its platform allows it to concentrate on addressing exploitable vulnerabilities as it eliminates the need for human intrusion testers and physical access to customer facilities. Pentera relies on agentless technology and does not require the installation of software agents.
The most recent round brings the company's growth to a close. Pentera has added hundreds of new clients in the last year, including around 100 in December alone, and additionally its ARR has increased sixfold in the last two years. Pentera's technology is used by over 400 clients worldwide, including five of Israel's seven banks, ten government offices and agencies, and Israeli companies such as Shufersal, Teva, and Netafim. Currently, the company employs 150 people in Israel, the United States, England, and Germany.
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