The difference is that the Cloud Penetrator runs from https://penetrator.secpoint.com and can only scan Public IPs as a web service.
The software running in Cloud Penetrator and Penetrator software is the same.
With the Penetrator software you can deploy on a local laptop or server and then not just scan public IPs but also local IPs.
The Penetrator software also allows for reporting rebranding with Logo,Company name, Watermark which is not possible on the cloud version.
With the Penetrator software you can scan any IP address that you choose and have permission to.
With the Cloud Penetrator it is fixed to only scan submitted IPs that must be approved each time since it is running from our servers.