In an era where 95% of security breaches are attributed to human error, enterprises face a critical challenge: outdated cybersecurity training methods are no longer sufficient. With the average cost of a data breach reportedly reaching $4.88 million in 2024, businesses urgently need innovative solutions to tackle human vulnerabilities. Pistachio, an AI-powered platform, is stepping into this gap by automating cybersecurity awareness training for modern organisations.
In a recent development, the Oslo-based startup has secured $7 million in a Series A funding round, led by European venture capital firm Walter Ventures. Other participants in the round include Idékapital, Angel Invest, MP Pensjon, and J12 Ventures. Previously, the company bagged a €3.25 million investment in 2023.
The fresh capital will fuel its expansion across Europe and North America, following its rebrand in 2023. A key part of this growth strategy includes the opening of a new office in Valencia, signalling the company’s commitment to strengthening its global footprint.
The investment will accelerate Pistachio’s expansion across Europe and North America, including the opening of a new office in Valencia this month. Atanas Mukov, Partner at Walter Ventures, will also be joining the company’s board alongside Remo Mahler, Principal at Angel Invest.
Pistachio: AI-driven cybersecurity for the modern world
Founded in 2019 under the name CYBR, Pistachio was established by cybersecurity veteran Joe Jones, alongside co-founders Mohammed Awais Aziz and Jaan Kitchuk. After a strategic rebrand in late 2023, the co-founders Joe Jones and Mohammed Awais Aziz alongside CTO Zack Korman led the company’s transformation into Pistachio. Their shared vision is clear: to build a fully autonomous, AI-driven platform that personalises cybersecurity training for every individual within an organisation.
The company distinguishes itself as the world’s first fully automated cybersecurity awareness training platform requiring no manual oversight. It operates autonomously in the background, delivering realistic and personalised cyberattack simulations and security scenarios directly to employees’ inboxes, Microsoft Teams, or Slack.
By analysing user behaviour and learning patterns, the platform ensures that each employee receives targeted, practical training that enhances threat recognition and response skills in real-time. This AI-driven approach not only improves engagement and knowledge retention but also significantly reduces the risk of human error leading to costly breaches.
Currently, Pistachio supports over 600 companies, including notable organisations such as Scotland’s University of St Andrews and The Riskpoint Group, Europe’s largest Managing General Underwriters. The platform has expanded to users in 99 countries and maintains a physical presence in 16.
Future outlook
The latest funding round marks a pivotal moment for the company. With an annual attack simulation run rate surpassing two million and a fourfold increase in annual recurring revenue from 2023 to 2024, its growth trajectory is strong. The company plans to use the new funding to modernise enterprise cybersecurity training, aiming to set the new gold standard for security culture globally.
As businesses continue to confront the growing challenge of human error in cybersecurity, Pistachio’s AI-powered model offers a compelling, scalable solution poised to redefine how enterprises protect themselves in the digital age.
“Employees remain the most significant vulnerability in enterprise security, and ineffective training leaves organisations exposed to phishing attacks, social engineering, and other cyber threats,” said Joe Jones, co-founder and CEO of Pistachio. “A staggering 40% of users fall for at least one of the first 15 phishing simulations through Pistachio. And with AI making it easier and cheaper to undertake social engineering attacks, we can no longer rely on ‘traditional’ security training, which has long been static and ineffective, failing to engage employees in meaningful ways. Pistachio was built to challenge that status quo, and this funding allows us to bring our vision to even more organisations globally.”
“We see a massive opportunity in making security awareness more intelligent and engaging,” added Atanas Mukov, Partner at Walter Ventures. “Pistachio is at the forefront of this transformation, and we’re excited to support their mission to make enterprises more secure through smarter training solutions.”
