Picus Security Secures $45 Million for Advanced Cybersecurity Solutions
Picus Security Secures $45 Million in Funding to Enhance Cybersecurity
Picus Security, a leading name in security validation, has successfully closed a significant funding round of $45 million. This investment, primarily led by Riverwood Capital with the involvement of existing investor Earlybird Digital East Fund, brings their total funds raised to an impressive $80 million. The new capital infusion is set to propel further product innovation and expand its success across sales and marketing.
Innovative Solutions for Cybersecurity
Unique in the cybersecurity landscape, Picus offers an all-encompassing Adversarial Exposure Validation solution. This innovative platform integrates Automated Penetration Testing, Breach and Attack Simulation (BAS), and Rule Validation capabilities. Picus aims to streamline cybersecurity efforts by correlating various previously siloed exposure data, which allows organizations to effectively prioritize and remediate critical security gaps.
The Future of Cyber Risk Management
By leading the newly formed category of Adversarial Exposure Validation, Picus provides vital tools such as the Picus Exposure Data Fabric™ and Picus Risk Dashboard. These tools are instrumental in providing cybersecurity teams with a clearer understanding of their cyber risk landscapes, enabling more informed decision-making.
“With our open approach to continuous threat exposure management, organizations can gain a deeper insight into their cyber vulnerabilities and proactively defend against potential threats,” said Joe De Pinho, Partner at Riverwood Capital and an influential member of Picus’ Board. He emphasizes how Picus’s automation capabilities redefine how companies safeguard their assets against attackers.
Strengthening Cyber Defense Across Industries
Picus serves a diverse range of customers across many sectors, with a particular focus on industries that require stringent regulatory compliance like financial services. This has led to the simulation of over one billion cyberattacks to empower organizations in minimizing cyber risk effectively.
Demand for Advanced Technology Solutions
As expressed by Picus CEO and co-founder Alper Memis, the market signals a shift towards more effective exposure management practices as enterprises seek solutions that surpass traditional vulnerability management. Customers are increasingly interested in integrating advanced technologies within twelve to eighteen months. This evolving trend underscores the readiness for innovative cybersecurity mechanisms.
“With our leadership in Breach and Attack Simulation and a pioneering role in Adversarial Exposure Validation, we are committed to helping our clients enhance their security effectiveness significantly,” Memis states, highlighting the priority for validating cyber exposures while managing the attack surface effectively.
Framework for Effective Risk Management
The creation of the Adversarial Exposure Validation category aligns with the growing contention within the cybersecurity domain for a more offensive strategy. Continuous Threat and Exposure Management (CTEM) acts as a guide for security teams to enhance their security posture by confirming and refining their cyber defenses constantly.
Francisco Alvarez-Demalde, Co-Founder and Managing Partner of Riverwood Capital, speaks enthusiastically about Picus’s potential to transform the cybersecurity field through its advanced AI and machine learning capabilities. The firm’s rapid growth in the Americas, reportedly tripling in just one year, reinforces Picus’s position as a significant innovator in cybersecurity.
About Picus and Riverwood Capital
Founded with a mission to bring clarity to organizations’ cyber risk, Picus harnesses innovative technology to prioritize and validate findings from disjointed sources. By improving the visibility of vulnerabilities, Picus empowers security teams to act decisively and efficiently against threats.
In tandem, Riverwood Capital maintains a strong commitment to fostering expansion in high-growth technology companies, combining expertise with necessary capital to propel businesses to greater heights.
Frequently Asked Questions
What is the core offering of Picus Security?
Picus Security provides an Adversarial Exposure Validation solution, integrating various cybersecurity features to enhance protection against threats.
How much funding has Picus Security raised?
Picus Security has raised a total of $80 million, with the latest round bringing in $45 million.
Who led the recent funding round for Picus Security?
The recent funding round was led by Riverwood Capital, with participation from Earlybird Digital East Fund.
What industries does Picus serve?
Picus serves various industries but focuses particularly on regulated sectors such as financial services.
How does Picus help businesses improve cybersecurity?
Picus empowers businesses by providing tools to prioritize and validate security exposures, enhancing their ability to mitigate cyber risks effectively.
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