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Cybersecurity startup Pistachio raises €3.25M and launches new platform

Cybersecurity startup Pistachio raises €3.25M and launches new platform

Cybersecurity startup Pistachio raises €3.25M and launches new platform

OSLO, Norway – Norwegian cybersecurity company Pistachio (formerly CYBR) announced that it has secured €3.25M in funding from an investor group led by Signals Venture Capital.

As part of this funding push the company has also released their new AI-driven security training platform which they say will help European companies eliminate human error in battling cyber threats. The platform replaces what Pistachio called repetitive cybersecurity training and generic awareness with personalized training and automated attack simulations to plug every security hole.

“We are extremely happy to welcome our new investors onto the Pistachio journey,” said Mohammed Awais, co-founder and CEO of Pistachio. “Already early on, we realized the tools available for companies to protect themselves were outdated and generic, not really set up to counter modern threats. With our new investors on board and our platform out on the market, we are ready to revolutionize how companies deal with security threats.”

According to a Stanford study offered by Pistachio, 88% of data breaches are the result of human error, however Pistachio’s platform uses artificial intelligence to assess each employee’s security strengths and weaknesses through various simulated cyber attacks. Once an employee profile has been created, the platform sets up a completely individualized security training program. The simulated attacks will then only slow down once the individual’s training has reached an acceptable level, helping companies ensure their entire workforce is capable of handling new threats when they arise.

“We invested in Pistachio because they have proven they have what it takes to be a market leader in an industry that just keeps on growing,” said Christian Weniger, General Partner at Signals VC. “Their strong position and proven track record in Scandinavia shows us they are ready to grow, and we want to help Joe, Awais, and the team conquer Europe, also including Germany.”.

Besides lead investor Signals VC, the investor group is made up of Norwegian pension fund MP Pensjon and all of Pistachio’s existing investors. To date, Pistachio has raised €5.4M and has 26 employees.

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