Oslo-based Pistachio (formerly CYBR), a cybersecurity training platform empowering individuals and organisations to stay safe in the digital world, announced on Thursday that it has secured €3.25M in a fresh round of funding.
The round was led by Berlin-based Signals Venture Capital. The investor group is made up of Norwegian pension fund MP Pensjon and all of Pistachio’s existing investors.
To date, the company has raised €5.4M in funding.
Pistachio has also launched an AI-driven security training platform to assist European corporations in combating cybersecurity threats caused by human errors.
Capital utilisation
Pistachio says it will use the funds to accelerate growth and expand into new European and North American markets. The company already has monthly recurring revenue of €60,000 and over 100 customers spanning eight European countries.
Mohammed Awais, co-founder & CEO of Pistachio, says, “We are extremely happy to welcome our new investors onto the Pistachio journey. Already early on, we realised the tools available for companies to protect themselves were outdated and generic, not really set up to counter modern threats.”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 revolutionise how companies deal with security threats,” adds Awais.
Tailored cybersecurity training
Founded in 2022, Pistachio is a cybersecurity platform dedicated to securing organisations in the digital age. They provide customised training to protect teams from evolving threats, aiming to make cybersecurity uncomplicated and hassle-free.
The company differentiates itself by employing advanced automation and rapid integration, requiring only minutes instead of months. This offers companies instant platform access, contrasting with the industry’s customary lengthy integration periods.
Awais says, “The emergence of easy-access AI technology has changed the ballgame completely for cyber security.”
For example, where scammers previously sent out generic phishing emails to large groups and hoped to get lucky, they are now able to tailor their attempts to individual targets with minimum effort. Without individualised cyber security training, many of these attacks will succeed,” adds Awais,
Pistachio is an established leader in the Scandinavian cybersecurity sector, experiencing 325 per cent ARR growth since the previous year. It is now set to expand into Europe and subsequently target the North American market.
Established as CYBR, Pistachio currently has 26 employees.
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