The Agentic AI Hacker
Why 33N Invested in Equixly
We’re thrilled to announce that 33N Ventures is leading Equixly’s €10M Series A, joined by Alpha Intelligence Capital, with additional participation from existing investors 360 Capital, JME Ventures and Fondazione Cassa di Risparmio di Firenze.
Our thinking
Equixly bridges the gap between manual pen-testing and blunt scanners by using AI to automate nuanced offensive testing at scale.
At 33N we’ve been debating how AI can productise parts of cyber services – not to remove experts, but to capture the experience-driven judgement top offensive teams apply and make it repeatable, reliable and embedded in how engineers ship software. Penetration testing is the classic example: highly contextual work that has resisted scale because so much of it depends on tacit knowledge and edge cases. Manual tests are thorough but slow and costly – often taking weeks and still missing critical issues (research suggests about 30% go undetected). Scanners are fast but blunt: they rarely reason about business logic and miss attacks where hackers exploit workflows to steal data or hijack accounts. That gap – speed versus real security – is what we wanted to close. Equixly’s team lived this problem, then built the right data and models, and found a pragmatic way to automate the hardest parts of offensive testing without losing the nuance.
The size of the problem
APIs now dominate enterprise traffic and revenue, yet existing protections miss business-logic flaws and will struggle as AI accelerates software creation.
APIs now account for roughly 57% of global web traffic and enterprises commonly run hundreds to thousands of endpoints, with related losses already measured in the hundreds of billions of dollars. APIs are increasingly revenue pipes: companies sell data via APIs, tech firms monetize modular services and AI vendors charge for endpoints. Protecting APIs therefore protects income, not just systems. Current defenses split between runtime protections (WAF/WAAP) and AST tools not built for stateful, modern APIs. Neither reasons about business flows, state transitions and emergent behaviors. As AI-generated code speeds up development, poorly written or insufficiently tested software reaching production will only worsen.
Meet the autonomous AI hackers
Equixly deploys agentic AI that maps systems, understand workflows, and runs continuous logic-aware attack simulations developers can use.
Equixly’s answer is agentic AI “hackers” that both reason and act. The agents map an application’s API surface (including shadow endpoints), learn how systems are used, reconstruct business logic and run context-aware attack simulations that expose deep logic flaws scanners miss. By reducing noise and false positives and running in CI/CD, testing becomes continuous and usable for developers rather than episodic. The same graph-based, agentic reasoning extends beyond APIs to emerging AI-native surfaces such as Model Context Protocols and agent-to-agent systems, so the platform scales as new attack surfaces appear (blog).
What’s next
The round fuels product and team expansion as Equixly positions itself to become a global leader in next-generation application security.
The round is about continuing to build out the product and the team, while expanding internationally, starting with the UK. We backed Equixly because they attack a problem that is massive and getting worse, they do it with a different and extensible technical approach, and they’re led by people who have actually done the work. This team is set to lead the charge among Europe’s cybersecurity innovators and become a global category leader in the next generation of application security. We’re genuinely excited to join their mission: turning the hardest parts of offensive testing into software teams will run to protect their critical systems.
33N Company Updates 🚀
Acoru
Hiring several positions, including Sales & Marketing, after Series A!
Apono
Hiring several positions, including Sales & Marketing, after Series B!
Released MCP Server for admins, allowing admins to manage and automate privileged access workflows, in natural language, through MCP-compatible tooling – Read more
DataGalaxy
Featured in Gartner’s new Magic Quadrant™ for Metadata Management Solutions – Read more
Featured in the new research by ISG Software Research, Analyst Perspective: DataGalaxy Addresses the Governance and Value of Data – Read more
Equixly
Announced the Series A round, that we just told you about!
Attending Black Hat Europe this week - reach out at booth SC02!
Exein
CEO Gianni Cuozzo was awarded the Entrepreneur of the Year Award in the Scaleup category from EY Italy – Read more
Named as a Representative Vendor in the 2025 Gartner Market Guide for Embedded Security for IoT Connectivity – Read more
Panorays
Released “Smart Match”, AI-powered auto-fill engine that transforms how evaluators and mitigators complete cyber risk questionnaires – Read more
Achieved ISO/IEC 42001 certification, for responsible AI – Read more
StrikeReady
Nominated as a Top 5 finalist for SANS Institute Difference Makers Award in Innovation of the year category – Read more
Upcoming Events for 33N 🤝
Black Hat Europe, London, 8-11 Dec — Gonçalo B., Gonçalo S.
Cyberweek, Tel-Aviv, 8-11 Dec — Guy Horowitz
Reach out to meet us there!