Pcysys, a cybersecurity risk validation platform, has collected $10m in its Series A round to support its growth in North America and EMEA.
The capital injection was led by Canadian venture firm Awz Ventures. Additional contributions came from Blackstone.
Founded in 2015, the Israel-based company utilizes algorithms to scan and ethically penetrate a corporate network with the latest hacking techniques. The platform prioritizes remediation efforts with a threat-facing perspective.
Organizations using Pcysys can focus on solving the vulnerabilities which directly impact the business, rather than hunting down thousands of issues which cannot be exploited towards data theft, encryption or service disruption.
Its platform is used by 100 enterprise customers, across 15 verticals including banking, insurance, asset management, energy, retail and healthcare.
Proceeds from the round are earmarked to increase sales and further the advancement of its technology stack.
The Series A has brought the cybersecurity startup’s total funding to $15m.
Awz Ventures founder and managing partner Yaron Ashkenazi said, “We are proud of Pcysys and the incredible progress that they made in such a short period of time.
“We were delighted to also lead this series-A fundraising round and we believe the company will continue to build on its success. Together with our new partner, Blackstone Innovation, we are confident Pcysys can become a global leader in the field of cyber security and risk validation.”
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