Israel’s Penitera eyes U.S. IPO, raises $150 mln in funding round

Reuters reports that Israeli cybersecurity firm Pentera has raised $150 million in its latest funding round.

The funding round took the company’s value to $1 billion.

Reuters added that adding the company is eyeing an initial public offering in the United States.

The IPO will probably take place in 2024, Pentera Chief Executive Amitai Razon has said.

The funding round led by K1 Investment Management could be the last capital raise before the initial public offering.

Pentera, formerly known as Pcysys, plans to use the capital to double its engineer team and expand into new markets including the Asia-Pacific region and Latin America, Ratzon said.

One third of its customers are currently based in the United States.

Pentera was founded by Arik Liberzon, Arik Faingold, and a group of former cybersecurity researchers at the Israel Defense Forces.

Pentera allows security workers to test its network vulnerability from the hacker’s perspective.

By imitating hackers’ attack in a safe environment, Pentera offers security teams an assessment of their resiliency against real attacks.