Cyber attack on Israel (unsplash photo, freepik, pixabay)
The Israeli start-up Pentera, which has developed a platform for assessing risks and exposures in cyber defenses by automating intrusion testing in organizations, announces the completion of a third round of funding (Round C) of $ 150 million, valued at $ 1 billion.
The K1 Investment Management fund led the round of funding, which was also attended by the Insight Partners and Evolution Equity Partners funds. The company’s investors also include Awz Ventures and Blackstone. Over the past three years, Panthera has raised a total of $ 190 million, and the current round of funding makes the company the highest value company in the world in the field of Automated Security Validations.
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Pantera was founded in 2015 by Dr. Eric Liberzon, VP of Technology, and Eric Feingold. The company is headed by CEO Amitai Ratzon. The company’s technology is used by more than 400 organizations worldwide, including five of the seven largest banks in Israel, ten government offices in Israel, and leading companies such as Teva, Netafim, and Shufersal. The company currently employs more than 150 She works in her offices in Israel, the USA, England and Germany.
Pantra has developed a software platform for automated intrusion testing of enterprise information systems, with the aim of assessing the degree of their immunity to cyber attacks, detecting defects and blocking security breaches. Panthera’s algorithm mimics the actions of a human hacker and challenges the security of the corporate network, servers and information systems. The unique technology does not require the installation of “agents” at any endpoint (agentless), works safely and assimilated without any need to stop the company’s operations. The reports generated at the end of the process enable the organization’s security teams to repair the defects according to their true level of risk, continuously, and help the company’s management to ensure that the organization is protected from cyber attacks on an ongoing basis.
The current round of recruitment was completed in the midst of a period of significant growth for the company, against the backdrop of the rise in ransomware attacks. Pantera has recruited hundreds of new customers over the past year, about 100 of whom were added during December 2021, and the company’s annual revenue rate has soared sixfold in the last two years. Against the background of the recruitment, Pantra is expected to expand its development, marketing and sales activities, en route to a public offering. The company also plans to double the number of employees by the end of 2022.
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