Riverwood Capital, a renowned investment firm, spearheaded a $45 million investment in Picus Security, a security validation startup, to bolster their presence and offerings in the Americas. The co-founder and CEO of Picus Security, Alper Memis, highlighted that the investment would enable the company to enhance its attack surface management, automated penetration testing, and breach simulation capabilities.

Picus Security, founded in 2013, has positioned itself as a leader in breach and attack simulation. However, over the past 18 months, the company has evolved into a platform that assists organizations in managing exposure effectively. This shift in focus aims to help organizations comprehensively understand their cyber risk landscape by correlating insights from various tools and providing a unified view.

The $45 million Series C investment from Riverwood Capital marks a significant milestone for Picus Security, bringing their total outside funding to $80 million. Alper Memis emphasized that the funds would be instrumental in driving product innovation and expanding globally. With 233 employees and a strong foundation, Picus Security is poised for rapid growth and market expansion.

Riverwood Capital’s expertise in cybersecurity and extensive network of decision-makers will play a pivotal role in shaping Picus Security’s market strategies and accelerating its growth trajectory. Memis highlighted the synergy between the two entities and underscored the importance of efficient product deployment and market penetration, areas where Riverwood’s experience can provide valuable insights.

Picus Security aims to deepen its integration with other cybersecurity products to enhance data correlation and offer organizations a clearer picture of their cyber risk posture. By consolidating insights from diverse security controls, the company intends to deliver a unified, comprehensive understanding of cyber risk, enabling organizations to prioritize and address critical security gaps effectively.

In a strategic move, Picus Security plans to bolster its presence in the Americas, with a target of increasing sales from this region to 50% of total revenue within the next few years. The United States, in particular, presents a lucrative opportunity due to the substantial cybersecurity market size and maturity. By focusing on large enterprises in sectors like banking and finance, Picus aims to address the complex cyber risk challenges prevalent in these industries.

Competing in a crowded market against established players like SafeBreach and Tenable, Picus Security sets itself apart by offering a comprehensive platform that combines breach and attack simulation, automated pen testing, and attack surface management. This integrated approach resonates well with organizations seeking a holistic cybersecurity solution that streamlines risk assessment and mitigation efforts.

Despite the substantial funding, Picus Security remains committed to operational efficiency and sustainable growth. The company emphasizes delivering value to the CISO community by enabling automated gap-fixing solutions and maximizing output within resource constraints. By focusing on generating substantial returns with minimal resource expenditure, Picus Security aims to solidify its position as a trusted cybersecurity partner for enterprises worldwide.

In the ever-evolving landscape of cybersecurity threats, investments like the one led by Riverwood Capital in Picus Security underscore the industry’s growing emphasis on proactive risk management and comprehensive security solutions. With a clear strategic vision and robust financial backing, Picus Security is poised to make significant strides in enhancing exposure management and fortifying organizations’ cyber defenses.

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