Picus Security, a San Francisco-based startup, has raised $45 million in Series C funding from Riverwood Capital. The company, founded in 2013 and led by Alper Memis, aims to provide a unified risk management platform by integrating attack surface management, automated penetration testing, and breach simulation tools. With this new investment, Picus plans to expand its capabilities and develop a platform that offers organizations a clearer understanding of their cyber risks.
The startup’s focus is on correlating insights from its various cybersecurity products to provide a holistic view of an organization’s exposure. Picus differentiates itself by combining breach and attack simulation with automated penetration testing and attack surface management, a move that aims to simplify the process of understanding and addressing cyber risks for large enterprises. The company targets industries such as banking, finance, and insurance, where managing cyber risk is particularly complex.
Picus plans to increase its footprint in the Americas, particularly in the United States, where it aims to grow its sales from 25% to 50% of its total revenue in the next two to three years. The U.S. is a key market due to its size and the maturity of the cybersecurity industry, with 50% of global cybersecurity spending coming from the region. As demand for cybersecurity solutions grows, Picus aims to streamline the process by offering a unified view of cyber risks, which has garnered strong interest from potential customers.
The company also aims to maintain operational efficiency despite the significant funding, ensuring that growth does not rely solely on spending the raised capital. Picus focuses on maximizing returns while minimizing resource expenditure, with the goal of generating substantial revenue without excessive costs. The startup intends to continue innovating and refining its product to meet the needs of CISOs and other decision-makers in complex environments.
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