Picus, which has written a worldwide success story by originating from Türkiye, has completed its global investment tour led by Riverwood Capital to shape a new cyber security category that combines automatic penetration testing and attack simulation. Turkish cybersecurity company Picus plans to strengthen product innovation and expand its operations worldwide with a new investment of $45 million.
Ankara, 19 September 2024 – Turkish cyber security company Picus Securityannounced that it has completed a global investment tour of $45 million. Global capital company that invests in technology-focused high-growth companies RiverwoodCapital With this investment round, led by the company and with the participation of existing investor Earlybird Digital East Fund, Picus increased the total investment amount it received to 80 million dollars. Showing once again the power of the Turkish technology ecosystem in the global arena with more than 500 corporate customers worldwide, Picus is developing product innovations with this investment and making expansion plans in critical areas such as customer success, sales and marketing.
Picus, which has written a global success story in the field of cyber security, is the first and only Offensive Security Verification (Offensive Security Verification) that brings together Automatic Penetration Testing, Cyber Breach and Attack Simulation (BAS) and Intrusion Detection Rule Verification capabilities on the same platform.Adversarial Exposure Validation) offers its solution. By correlating disparate cyber risk data, Picus makes it easier for cybersecurity teams to prioritize, verify and close critical vulnerabilities. While Picus has pioneered many innovations since its establishment, it has also established itself as a leader in the field of Offensive Security Verification, one of the fastest growing areas of the cyber security industry. Data from disparate cybersecurity tools feeds the Picus Exposure Data Fabric™ and Picus Risk Dashboard, providing a clearer cyber risk picture.
“This technology, the work of Turkish engineers, is accepted worldwide”
Joe De Pinho, Partner at Riverwood Capital and new Picus Board MemberStating that Picus enables organizations to be more proactive against cyber security risks thanks to its innovative approach, he said: “Picus' platform provides Continuous Threat Exposure Management (Continuous Threat Exposure Management).Continuous Threat Exposure Management - CTEM) brings an innovative and open approach, enabling organizations to better understand their cyber risks and be proactive against threat actors. Picus' combination of automated penetration tests with continuous security verification is not only a game changer today; “It also forms the basis for how businesses will protect themselves in the future.”
Picus serves many major sectors, especially regulated financial services. Security Verification Platform It allows its customers to reduce their cyber risks and strengthen their defenses with more than a billion cyber attack simulations carried out through the company. This technology, the work of Turkish engineers, is accepted worldwide.
“This success shows the global power of the Turkish technology sector”
Picus CEO and Founding Partner Alper Memiş, stating that this success is an indicator of the global power of the Turkish technology ecosystem; "Organizations are looking for a more effective approach than traditional vulnerability management practices and plan to implement new exposure management technologies in the next 12-18 months. We are proud to give security leaders the power to assess and validate their exposure to cyber threats by combining vulnerability, attack simulation and attack surface data collected from different cybersecurity tools. As the pioneer of Cyber Breach and Attack Simulation and now the leader in the Offensive Security Verification space, we are delighted to help our customers improve their security posture," he said.
Explaining the emergence process of Cyber Threat Exposure Management and the Offensive Security Verification categories under it. Memiş; "It was born out of the need for a new approach to managing cyber security risks at the enterprise level. This approach was shaped by the increased awareness of Continuous Threat Exposure Management (CTEM). CTEM has brought a more offensive perspective to cyber security. Many security teams have adopted this approach as a guide to improve their security posture, realizing that continuous verification of cyber infrastructures, rules and defenses is now necessary," he explained.
“Picus strengthened its leading position in the American market by growing 3 times in 1 year”
Francisco Alvarez-Demalde, Founding and Managing Partner of Riverwood Capital, said about the giant investment: "Picus is reshaping cyber security with its artificial intelligence and machine learning capabilities. These capabilities help companies detect and address security vulnerabilities more efficiently. Picus' 3-fold growth in the American market in just one year reinforces its leading position in the field. Together with Alper and the Picus team, we are excited to build a platform that enables businesses to always stay one step ahead of evolving threats."
This new investment of 45 million dollars creates a significant opportunity to expand Picus' global operations, while also strengthening the position of the Turkish technology sector in the international arena.
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