Israeli automated phishing prevention, detection and response platform IRONSCALES today announced that it has closed a $15 million Series B financing round led by returning investor K1 Investment Management. IRONSCALES will use the funding to enlarge its North American sales and marketing teams, and further invest in R&D for its AI-driven anti-phishing platform. Including the latest round, Tel Aviv-based IRONSCALES has now raised more than $25 million from K1 and Israel’s RDSeed since 2015.
IRONSCALES founder and CEO Eyal Benishti said, “While email phishing is the oldest and most recognizable cyberattack technique, it remains an extremely complex problem that today requires the power of both artificial and human intelligence in an ongoing cycle of innovation for it to have any positive effect on an organization’s security posture. K1 has always believed in our vision for modernizing email security, and we’re thankful once again for their continued deep operational assistance as IRONSCALES continues to build out our US operations.”
IRONSCALES reports triple-digit revenue growth over the past 12 months and its advanced phishing threat protection platform has nearly 1,000 customers across financial services, healthcare, retail, education and other industries. The company's channel program has more than 50 partners including resellers, distributors, MSPs and MSSPs around the world.
The company employs people in Tel Aviv, across Europe and at its North American headquarters in Atlanta and plans to more than double its staff in the coming months.
“Since we initially partnered with, Eyal and the rest of the team, the company has performed exceptionally, tripled its revenue with US revenue growing more than 10 times in the previous 12 months alone,” said Hasan Askari, Managing Partner at K1. “IRONSCALES’ differentiated method of phishing prevention, detection and remediation has clearly resonated with enterprises. We’re thrilled to continue to support IRONSCALES as the company builds on the impressive momentum that they’ve exhibited over the past few years.”
IRONSCALES hybrid human intelligence (HI) and machine learning solution gives end users and security professionals the right training, tools, and intelligence - all with one-click resolution from a single platform - to hunt, log, alert, analyze, and remediate phishing attacks. To do so, IRONSCALES learns how both users and attackers behave over time to provide constant innovation, giving everyone real-time visibility and real-time control to detect and stop phishing attacks of all types. This decentralized approach makes anti-phishing effortless and seamless, providing security professionals and end users with full protection against all types of phishing threats.
Published by Globes, Israel business news - en.globes.co.il - on June 17, 2019
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