Automated Penetration Testing Startup Pcysys Raises $10 Million

Israeli cybersecurity firm Pcysys announced on Wednesday that it has completed a $10 million Series A funding round, which brings the total raised by the company to $15 million. 

Pcysys, an acronym for “Proactive Cyber Systems”, offers an automated penetration testing platform that uses algorithms to scan and “ethically penetrate” corporate networks using various hacking techniques, and helps customers prioritize remediation efforts by identifying vulnerabilities that pose a higher risk. 

Founded in November 2015 by Arik Liberzon and Arik Faingold, the company says it has 50 employees and is approaching 100 paying enterprise customers.

According to Pcysys CEO, Amitai Ratzon,  the company plans to use the additional funding to expand its sales and support efforts in North America and EMEA and to further develop its enterprise technology.

The Series A funding round was led by Canadian venture capital firm, Awz Ventures, along with investment giant Blackstone.