Turkish cybersecurity firm Picus Security raises $24 million

Picus co-founders Dr. Süleyman Özarslan, Volkan Ertürk, and Hamdi Alper Memiş

Turkish Breach and Attack Simulation company Picus Security has announced the close of a $24 million Series B funding round and will use the new capital to accelerate expansion plans across North America, EMEA, and APAC regions. Founded in 2013, Picus Security has raised a total of $33 million.

Rather than react to security breaches, Picus provides companies with the ability to simulate real-world cyber threats, including the all dreaded and on-the-rise ransomware and advanced persistent threat variants. The firm offers 11,000 types of attacks and 70,000 actionable mitigations, and a platform that is updated on a daily basis to reflect the latest attack techniques and behaviors.

“For too long, organizations have been forced to make assumptions about the state of their security posture,” said co-founder and CEO H. Alper Memis. “The Picus platform puts an end to this uncertainty by helping security teams to measure and improve the effectiveness of their security controls to prevent, detect and respond to threats.”

Frost & Sullivan has recognised Picus as one of the most innovative vendors in the Breach and Attack Simulation market and is the highest-rated BAS company based on reviews submitted to Gartner Peer Insights. Since 2019, the company has seen its international business grow over 400%.

Picus Security’s Series B round was led by Turkven with existing investor, Earlybird Venture Capital following on, as well as cyber security industry veteran Nathan Dornbrook.

“The day-to-day workload of security teams can be overwhelming,” said Cem Sertoglu, Partner at Earlybird Digital East. “Picus helps to ease the strain and ensure that security tools are ready to defend organizations against the latest threats as they emerge.”

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