Picus Security, a breach and attack simulation solution, has scored $5m in its Series A round.
Earlybird, a German early-stage venture firm focused on the technology space, led the round. In conjunction with the deal. Earlybird Ventures partner Cem Sertoğlu will join the company’s board of directors.
With the new funds, the company will increase its growth efforts and global expansion plans.
Picus helps organizations to identify imminent threats and better understand the cybersecurity risks. Its technology can be installed and configured within a company’s platform and will search for security gaps in real-time, providing specific remediation signatures and a prioritization list.
An interactive dashboard is created to give a holistic image of the business’ security.
Picus Security CEO and co-founder Hamdi Alper Memis said, “Our obsession with helping organizations stay ahead of adversaries has paid off with consistent double growth and high retention rates in the emerging Breach and Attack Simulation market.
“This new funding will fuel our global expansion while ensuring that we remain ahead of the curve by focusing on research and innovation.”
Prior to this round, the cybersecurity company had raised a $1.7m investment from ACT.VC.
Last year, Earlybird closed its sixth venture tech fund on €175m to support European technology companies. The vehicle backs technology startups in German-speaking countries, the Nordics, the UK, Benelux, Franec, France, and Southern Europe.
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