Fortifying Enterprises: Cybersecurity’s Crucial Role
In a recent announcement, the Norwegian cybersecurity firm Pistachio, previously recognized as CYBR, has secured €3.25M in capital from a group of investors led by Signals Venture Capital.
This funding round also saw the launch of their novel AI-powered security training platform. This platform targets to eradicate human blunders in combatting cyber threats. It substitutes outdated cybersecurity education and basic awareness with personalized training and automated attack simulations for comprehensive security.
Mohammed Awais, co-founder and CEO of Pistachio, expressed his pleasure to usher new investors into Pistachio’s journey. He highlighted the shortcomings of existing protection tools to tackle modern threats and expressed optimism for their platform’s ability to redefine how companies tackle security hazards.
Pistachio shared a Stanford study revealing that human error causes 88% of data breaches. However, Pistachio’s platform leverages artificial intelligence to evaluate each employee’s security skills and vulnerabilities using various simulated cyberattacks. After generating an employee profile, the platform customizes a security training course for each individual. The frequency of simulated attacks diminishes as the individual’s training reaches a satisfactory level, thereby empowering companies to prepare their workforce against emerging threats.
Christian Weniger, General Partner at Signals VC, justified their investment in Pistachio by recognizing their potential to lead a continuously expanding industry. He praised Pistachio’s strong position and successful history in Scandinavia, expressing their readiness for growth and the team’s ambition to expand throughout Europe, including Germany.
The investment group also consists of a Norwegian pension fund MP Pensjon and all existing Pistachio investors. So far, Pistachio has accumulated €5.4M in investments and maintains a workforce of 26 employees.
