Israeli startup Pentera, previously Pcysys, which creates an automated penetration-testing platform for assessing and mitigating enterprise cybersecurity vulnerabilities, announced on Tuesday the closing of a $150 million Series C round at a $1 billion valuation.
K1 Investment Management led the round, which also included Evolution Equity Partners and Insight Partners. Existing investors are Insight Partners, Awz Ventures, and Blackstone Group.
The company has raised $60 million in previous rounds. Since marketing began in 2018, the company has seen significant revenue growth year-over-year.
Founded in 2015 by Arik Faingold and Arik Liberzon Pentera is an agentless platform that does not require the installation of software agents.
The company says that its platform eliminates the need for human penetration testers and physical access to customer premises, allowing it to focus on exploitable flaws instead.
Its distinction stems from the fact that it uses ethical hacking techniques rather than the more prevalent simulation method.
By discovering, assessing, and remediating exploitable vulnerabilities, the Pentera automated penetration-testing platform assesses and eliminates cybersecurity risk.
The new financing brings the company’s growth to a close. Pentera recruited hundreds of new clients during the last year, including over 100 in December alone, and its annual revenue has more than doubled in the last two years. Over 400 clients worldwide rely on Pentera’s technology, including five of Israel’s seven banks, ten government offices and organizations, and Israeli firms such as Shufersal, Teva, and Netafim. Currently, the company employs 150 individuals in Israel, the United States, the United Kingdom, and Germany.
“We are expanding our product line to ensure that we can combat any danger, foreign or internal,” Ratzon added. “To accomplish that, we will increase our research and development staff to 140 employees. There is almost no circumstance in which we come across a perfectly protected firm.”