-- Financing Accelerates Company's Expansion to Support Growth of Cybersecurity 
Testing Market

Cybersecurity Validation company, Pcysys, announced today that it has completed 
a $25 million Series-B Funding round led by US-based venture capital and 
private equity firm Insight Partners, along with existing investors, Awz 
Ventures and The Blackstone Group. The company, which has developed PenTera, 
the revolutionary Automated Penetration Testing platform, has raised $40 
million to date. 

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The funding round will be used to expand the company's sales and delivery teams 
in North America, EMEA, and Asia Pacific as well as continue the development of 
its best-of-breed technology.

Pcysys (an acronym for "Proactive Cyber Systems"), was founded in November 2015 
by Arik Liberzon and Arik Faingold and is managed by CEO Amitai Ratzon. Since 
its market debut in mid-2018, the company has experienced substantial revenue 
growth year-over-year. Pcysys has 60 employees worldwide and hundreds of 
enterprise customers across more than 15 industries, including Banking, 
Insurance, Investment Management, Healthcare, Retail and Energy. 

Automating penetration testing and red teaming activities, Pcysys' PenTera(TM) 
software platform uses algorithms to scan and ethically attack the enterprise 
network with the latest hacking techniques, identifying security weaknesses 
with a threat-facing perspective. Running on-premise or remotely, the platform 
enables cost-effective remediation by focusing on the vulnerabilities that take 
part in a proven "kill-chain", providing visibility to the true cybersecurity 
posture. 

In addition to enterprise customers, MSSPs also use PenTera, to provide remote 
Penetration-Testing services (PT-as-a-Service) to their clients while 
leveraging the platform's remote testing capabilities, made available to 
support global pandemic work from home needs.

"The Pcysys team and PenTera as a product align perfectly with our mission to 
invest in the most advanced software ScaleUps in order to accelerate growth," 
said Thomas Krane, Principal at Insight Partners. "Having invested in many 
cybersecurity companies, we can identify the industry leader that can dominate 
the security validation space. PenTera is revolutionizing how enterprises 
manage risk validation in the enterprise, and we look forward to working 
alongside Amitai and the team to scale."

"We are proud and excited to have Insight Partners as a key investor together 
with the continued trust of The Blackstone Group and Awz Ventures," said Amitai 
Ratzon, Pcysys CEO. "This is a big day for our global customers, partners, and 
employees, to whom we owe our exponential growth and market leading product."

"PenTera has revolutionized the security risk validation domain and helped our 
customers increase their cyber resilience," said Arik Liberzon, Pcysys 
Co-Founder & CTO. "The partnership with Insight Partners will enable us to 
materialize our vision of becoming the cybersecurity validation authority and 
give every enterprise the power of a Red Team at the tips of their fingers."

"Awz is very proud of the milestones Pcysys has reached since our seed 
investment in 2016," said Yaron Ashkenazi, Managing Partner of Awz Ventures. 
"We feel privileged to have been part of the journey, assisting Pcysys in its 
initial penetration to the North American market, leading their Series A 
alongside The Blackstone Group, and now welcoming a prestigious, strategic 
investor - Insight Partners."  

About Pcysys 
Pcysys delivers PenTera, the agentless, automated penetration-testing platform, 
that assesses and reduces corporate cybersecurity risk. The platform is run 
remotely or on-premise in alignment with the MITRE ATT&CK framework to 
identify, analyze and focus remediation efforts on breachable vulnerabilities. 
Hundreds of security professionals and service providers around the world use 
PenTera to perform continuous machine-based penetration tests that improve 
their immunity against cyber-attacks across their networks.

About Insight Partners 
Insight Partners is a leading global venture capital and private equity firm 
investing in high-growth technology and software ScaleUp companies that are 
driving transformative change in their industries. Founded in 1995, Insight 
Partners has invested in more than 400 companies worldwide and has raised 
through a series of funds more than $30 billion in capital commitments. 
Insight's mission is to find, fund, and work successfully with visionary 
executives, providing them with practical, hands-on software expertise to 
foster long-term success. Across its people and its portfolio, Insight 
encourages a culture around a belief that ScaleUp companies and growth create 
opportunity for all. For more information on Insight and all its investments, 
visit www.insightpartners.com or follow us on Twitter @insightpartners.

About Awz Ventures 
Established in 2016 by Managing Partner, Mr. Yaron Ashkenazi, Awz 
(www.awzventures.com) is a Canadian hub for investment in cybersecurity, 
intelligence and physical security AI-based technologies from Israel, a global 
leader in these sectors. Awz manages $130M between its first two venture 
capital funds, having made early stage investments in 17 companies to date. Awz 
recently launched its $250M Series B and C Growth Fund.

Alongside Mr. Ashkenazi, Awz is led by Advisory Committee President, the Rt. 
Hon. Stephen J. Harper, the 22nd Prime Minister of Canada, and Founder & Board 
Chair, Mr. Ed Sonshine. Awz management and advisors also include former 
directors and senior executives from Israeli and global security and 
intelligence agencies (CIA, FBI, MI5, Mossad, ISA, CSIS, CAF), and global 
business and venture capital experts.

About Blackstone Group 
Blackstone is one of the world's leading investment firms. We seek to create 
positive economic impact and long-term value for our investors, the companies 
we invest in, and the communities in which we work. We do this by using 
extraordinary people and flexible capital to help companies solve problems. Our 
asset management businesses, with $564 billion in assets under management, 
include investment vehicles focused on private equity, real estate, public debt 
and equity, growth equity, opportunistic, non-investment grade credit, real 
assets and secondary funds, all on a global basis. Further information is 
available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Media Contact: Aviv Cohen, Pcysys CMO | aviv@pcysys.com

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SOURCE Pcysys Ltd.
 
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