Pistachio, an Oslo-based AI-powered cybersecurity awareness training platform, has successfully raised $7 million in a Series A funding round led by Walter Ventures, bringing its total funding to $10.5 million.

The fresh capital will also be directed towards scaling AI capabilities, growing engineering and sales teams, and enhancing the company's overall presence in its target markets.

The company has experienced substantial growth, conducting over two million annual attack simulations and achieving a fourfold increase in annual recurring revenue from 2023 to 2024.

Currently, Pistachio operates in 16 countries and serves over 600 organizations, including notable clients like the University of St Andrews and The RiskPoint Group.

By analyzing user behavior, Pistachio delivers targeted training that enhances employees' ability to recognize and respond to cyber threats, significantly reducing the risk of human error.

The funding round also saw participation from Idékapital, Angel Invest, MP Pensjon, and J12 Ventures, aimed at supporting the company's rapid growth in key markets.

Pistachio plans to utilize the new capital to accelerate its expansion in Europe and North America, including the recent opening of a new office in Valencia, Spain.

Founded in 2019 and rebranded from CYBR in 2023, Pistachio addresses human error in cybersecurity by providing ongoing training and simulated cyberattacks through tools like email, Slack, or Microsoft Teams.

CEO Joe Jones highlighted that employees represent the biggest vulnerability in enterprise security, with 40% of users falling for phishing simulations, underscoring the inadequacy of traditional training methods.

The urgency for effective cybersecurity training is underscored by the average cost of a data breach reaching $4.88 million in 2024, with human error accounting for 95% of these breaches.

Pistachio aims to transform cybersecurity training by challenging outdated methods that fail to engage employees effectively, focusing instead on personalized and engaging training experiences.