SAN FRANCISCO, Oct. 25, 2019 /PRNewswire/ -- Picus Security, the leading platform for Breach and Attack Simulation, today announced that it has raised $5 million in Series A funding led by Earlybird. Previously, Picus had raised $1.7 million led by ACT-VC.
This round of financing reaffirms Picus Security's potential to lead the Breach and Attack Simulation space and will be used to accelerate growth and worldwide expansion. Picus Security also announced that Cem Sertoglu, partner of Earlybird Ventures, has joined the company's board of directors. Earlybird invests in early-stage technology startups that redefine or create new markets, with notable investments such as UiPath and Hazelcast.
With its unique security validation approach, the Picus Platform identifies imminent threats, enables the most viable defense actions and helps businesses understand cybersecurity risks. Picus helps close the gap between the security stack and imminent threats with holistic security effectiveness assessments for on-premises and cloud environments.
"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," said Hamdi Alper Memis, CEO and Co-Founder of Picus Security. "This new funding will fuel our global expansion while ensuring that we remain ahead of the curve by focusing on research and innovation."
"Picus Security's commitment to customer success and innovation in the Breach and Attack Simulation segment has shown time and time again that it is a best-in-class solution with an excellent team," said Cem Sertoglu, Managing Director at Earlybird Digital East Fund. "We're impressed with Picus's technology and product-market fit which have already resulted in a large customer base. We are thrilled to welcome Picus to our growing portfolio and look forward to collaborating on the next phase of this journey."
This accelerated momentum comes at a time when Breach and Attack Simulation as a segment is drawing increased attention and investment. Picus has recently been recognized as a Cool Vendor in Security and Risk Management, 2H19 by Gartner. Picus was distinguished as one of the top 10 innovative cyber startups by PwC and the most innovative Infosec Startup of the year by Cyber Defense Magazine.
About Picus Security Inc.
Picus Security offers Continuous Security Validation and Mitigation as the most proactive approach to ensure cyber-resilience. The Picus Platform measures the effectiveness of defenses by using emerging threat samples in production environments, providing the insight required to build the right security strategy to manage complex operations better. Find out more at www.picussecurity.com
About Earlybird Digital East
Earlybird Digital East Fund (DEF) invests in ambitious technology ventures hailing from Emerging Europe. With over $300m in committed capital, the firm's portfolio includes some of the most successful startups in the region including UiPath. DEF is one of the three autonomous, dedicated and specialized teams within the Earlybird family, with over $1 billion under management, seven IPOs, and 24 trade sales. Further information is available at www.earlybird.com
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