Pentera announced it has raised $150 million in Series C funding led by K1 Investment Management, with participation from Evolution Equity Partners and Insight Partners.
Additional investors include Awz Ventures, a Canadian-Israeli VC group, and Blackstone. The round brings Pentera’s valuation to $1 billion after only three years in the market since the debut of its automated penetration testing technology.
The funding makes Pentera the highest-valued company in its category. With more than 400 enterprise customers, the recent funding allows Pentera to scale operations across all functions and regions, and grow its headcount from 150 to 300 employees by the end of 2022, on its journey to an IPO.
“Pentera’s exponential growth has proven that enterprises are no longer willing to compromise for assumptions and simulations, but rather demand real-world validation of their security resilience against the latest cyber attacks,” said Amitai Ratzon, CEO, Pentera. “Pentera is excited for the partnership with K1 as they share our vision to achieve category leadership in security validation. We are especially grateful to our employees, customers, partners, and investors for sharing our passion for the revolution we bring to the cybersecurity world.”
“Legacy vulnerability management platforms have given a false sense of security to the market,” said Christian Grant, Senior Vice President, K1 Investment Management. “Given the ever-changing threat landscape, constant and persistent testing is the only way to maintain a truly secure security posture. Pentera is the gold standard in the industry and we are thrilled to partner together for this next phase of growth.”
“Security teams struggle with prioritizing and dealing with a growing number of common vulnerabilities and exposures (CVEs). Furthermore, legacy vulnerability management approaches often focus on vulnerabilities that have low likelihood of being compromised,” said Dr. Arik Liberzon, Co-Founder and CTO, Pentera. “Pentera’s agentless platform helps these teams pinpoint their real security gaps. Our customers can finally trust the effectiveness of their cybersecurity stack and prove to their CEOs and boards that they’re secured against cyber attacks.”
Pentera will use the new funding to grow its global operations and product line, with the mission to empower every enterprise in every vertical to confidently reduce cyber risk and become attack ready. Recent additions to Pentera’s product portfolio include its RansomwareReady and Log4Shell validation modules.