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Pentest People achieves over 33% growth and is set to reach £9.2m plus revenue in 2023

Pentest People, the Penetration Testing as a Service (PTaaS®) and cybersecurity experts, has increased its revenue by over £1.8m from the previous year to achieve a growth rate of 33.3%. The £7.2m revenue cements the sixth year running the Leeds-based business has seen substantial growth.

Headquartered at the Coach Works offices in Leeds, Pentest People now boasts a team of over 100 people with a second office close to Government Communications Headquarters’ (GCHQ’s) cybersecurity hub in Cheltenham. Its successful new talent scheme, launched in 2018 has seen the company take on seven apprentices and graduates a year to support local jobseekers to gain employment in cybersecurity. To date, Pentest People has taken 14 former apprentices and graduates into full-time employment and currently has a total of 19 apprentices and graduates in training.

It has also vowed to further grow its consultancy team further, building greater Incident Response, CHECK and Cyber Essentials teams.

In November 2022, the company became one of the first companies in the UK to be accepted onto the CREST OWASP Verification Standard (OVS) for application security testing. The accreditation enables Pentest People to provide its customers with the highest-level of in-depth application security assessments and ensures rigorous web application testing is conducted to the criteria and methods consistently applied throughout the cyber security industry.

Pentest People also won ‘Best Security Company of the Year – Under 150 Staff’ award in the Cyber Security Awards 2022 which recognises the best individuals, teams, and companies within the cybersecurity industry showing both excellence and innovation.

“The cost of cybercrime is predicted to cost business globally $8 trillion in 2023, and according to the report the figure is taken from, will make it the third largest economy after the US and China. This is a crazy amount of money to be lost to the cyber underworld, and the reason why cybersecurity is now critical to the survival of any business,” comments Dan Rycroft, Sales Director for Pentest People.

“We understand the immense strain organisations are under to protect their systems from cyber-attacks. It’s an everyday fear that networks will get hacked. In today’s world, it’s now not about asking if it will happen, it’s about preparing for when it will happen. At Pentest People we’ve built and continue to build a solid portfolio of integrated security risk management solutions to give our customers peace of mind that their IT environment is protected,” continues Rycroft.

Alex Archondakis, Head of Professional Services at Pentest People, said: “Over the next 12 months, our aim is to further develop key features of SecurePortal 2.0, the next generation of our flagship platform that gives organisations a greater insight into security posture. We want to enable our customers to offload cybersecurity management processes to us to make life easier for them to concentrate on making their businesses a success. Our PTaaS services help businesses continuously monitor their IT environment 24 hours a day, seven days a week, 365 days of the year to identify threats in the cyber landscape. With PTaaS, security vulnerabilities are quickly detected and remediated before they’re exploited causing mass disruption. We’re dedicated to helping organisations massively reduce the risk window through a combination of manual and automated pen testing, we can help them stay safe for the future.”