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For as long as programming has live , we have had a plethora of methods to ensure the code works as intended . These days , that entire testing cognitive operation has been complain into eminent gear : The growing sophism of security breaches has plow software check into a much more urgent task — and a far more complicated one .
“ Everyone has a dissimilar , evolving approach shot , ” order Alper Memis , the CEO ofPicus Security . “ The holy grail is create a connection between them . ”
If understand what the holy grail looks like is half the challenge of finding it , Picus believes it ’s well on the elbow room toeternal happiness . The inauguration ’s political program runs continuous validation processes to rootle out and define inconsistency in code and other web activity . Now , after picking up more than 500 initiative customer and copy some 1 billion cyberattacks for the ilk of Mastercard , Visa , Vodafone and the banking giant ING , it has raised $ 45 million in a Series C bout to boom its business .
Riverwood Capital , a prolific enterprise investor , is leading the investment funds . premature angel Earlybird Digital East Fund is also enter .
Picus has now rear $ 80 million to date , and while it is not disclosing its valuation , in 2022 , when it last farm financial backing from investor ( a stave that included Mastercard ) , it was valued at a modest $ 94 million post - money , harmonise toPitchBook data . Since then , the company has grown to 200 employees and triple its revenues , with key mart in the Americas lead the way . For more guidance , a competitor of Picus ’ call Cymulate was most late valued at$440 million .
Memis , pictured above , came up with the theme for Picus Security with Volkan Ertürk ( its CTO ) and Dr. Süleyman Özarslan ( the VP of Picus ’ enquiry branch , Picus Labs ) . The three have been friend since they were studying math in university , and the academic work took them each in different directions . Memis doubled down on business enterprise and finance ; Ertürk parlay his numerical leanings into cyber defence ; and Özarslan became an academic . They all stayed in touch , and one mean solar day in 2013 they got to spill .
“ We liked to exchange estimate about what might be the next heavy thing , ” Memis said . Ertürk tell how he was advising on a vast cyber labor that come out to be configure correctly , yet only a month later , the organisation got break . Özarslan suggested that the only way to really help defend a non - static organisation was to test all the time : The constant shipping of code and data just changed the parameters too often otherwise . Here is where Memis ’ expertise also kicked in : The world of finance continually runs simulations to influence what the resultant for any action might be .
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Picus , the ship’s company they ground , turn out to be one of the first in the field to concentrate on the idea of uninterrupted establishment and simulation examination . That they were in Turkey and set out as early as 2013 , however , meant that the startup was swimming against the tide — cybersecurity was n’t as gravid as it is today . Outside support did not make out fast , and Picus was bootstrapped for the first five class of its spirit as it work on the good fashion to scale and automate its technology and test its musical theme to the grocery store .
Picus finally relocated to San Francisco , and as security became a bigger incubus for organizations , its ideas caught on .
One of Picus ’ unequaled selling stop is that it is built to work with the fragmentation that is part and parcel of the enterprise IT market these days . The society says it has integrations with some 80 other major security measure partners , which funnel alert and other activity into Picus ’ platform . Its solvent incorporates automated penetration examination , breach and attack pretence , and rein validation impediment across the various silos to enquire activity both within specific prick , and so to have a better understanding of how action in one silo might be interrelate to something go on elsewhere . Security teams can observe all of this on a single dashboard .
Accepting that there will be proprietary organization and tool on a internet but take an exposed advance to interact with them is what take in the optic of investors .
“ By taking a fresh , loose approach to continuous threat photo management , Picus ’ platform empowers organizations to better translate their cyber risk and be proactive against bad actors , ” Joe De Pinho , partner at Riverwood Capital , enunciate in a argument . “ Their use of automate playpen - testing alongside continuous proof is not only a biz - changer today , but also position the substructure for how endeavour will safeguard themselves in the future . ” De Pinho is lease a board seat with this round .
