For as long as programming has existed, ensuring code works as intended has been a crucial task. With the growing sophistication of security breaches, software verification has become an urgent and complex process.
Alter Memis, CEO of Picus Security, believes the holy grail is creating a connection between different approaches. Picus, a startup, has created a platform that runs continuous validation processes to identify and fix inconsistencies in code and network activity.
After simulating one billion cyberattacks for companies like MasterCard, Visa, and ING, Picus has raised $45 million to expand its business. The company has now raised $80 million and has tripled its revenue since 2022, with key markets in the Americas leading the way.
Picus was founded by Memis, Volkan Ertürk, and Dr. Süleyman Özarslan, who stayed in touch after studying mathematics together. They developed the idea for Picus while discussing the importance of continuous testing and simulation in defending against cyber threats.
Picus focuses on continuous validation and simulation testing, which sets it apart from other companies. The platform integrates with 80 major security partners, providing a single dashboard for security teams to observe activity and investigate potential threats.
Investors are impressed with Picus’s open approach to interacting with proprietary systems and tools, saying it empowers organizations to better understand cyber risks and be proactive against bad actors. In a statement, Riverwood Capital’s Joe De Pinho said, “Picus’ platform is a game-changer today and lays the groundwork for how enterprises will safeguard themselves in the future.” De Pinho is taking a board seat with this round.
