- Tel Aviv, Israel-based automated phishing prevention provider IRONSCALES announced recently that it raised $15 million in Series B
IRONSCALES, a Tel Aviv, Israel-based automated phishing prevention, detection and response provider, announced it raised $15 million in Series B funding led by K1 Investment Management.
With this round of funding, IRONSCALES is going to scale its North American sales and marketing teams and continue investing in the research and development of its AI-driven anti-phishing platform. Including this round, IRONSCALES has now raised over $25 million from K1 and Israel’s RDSeed since 2015.
“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,” said IRONSCALES founder and CEO Eyal Benishti. “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.”
In the last year, IRONSCALES saw triple-digit revenue growth and its award-winning advanced phishing threat protection platform attracted nearly 1,000 customers across a wide variety of sectors including financial services, healthcare, retail, and education.
Plus the company’s channel program currently boasts over 50 partners spanning leading resellers, distributors, MSPs and MSSPs around the world. As of right now, the company has employees in Tel Aviv, Atlanta (North American headquarters), and across Europe. Plus the company is planning to more than double its headcount in the coming months.
The global email security market is expected to surpass $18 billion by 2023 and businesses of all sizes are looking to reduce the cyber risks associated with malicious messages.
These risks have been amplified in recent years due to vulnerabilities caused by the acceleration of enterprise cloud migration and the proliferation of advanced phishing techniques like business email compromise, polymorphism, and ransomware — which are built to easily defeat traditional human and technical controls such as secure email gateways.
The IRONSCALES hybrid human intelligence (HI) and machine learning solution essentially 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.
IRONSCALES makes this happen by learning how users and attackers behave over time to provide constant innovation, thus giving everyone real-time visibility and real-time control to detect and stop phishing attacks of all types.
With this decentralized approach, it makes anti-phishing effortless and seamless. And it provides security professionals and end users with full protection against all types of phishing threats.
“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,” added K1 Managing Partner Hasan Askari. “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 released the email security industry’s first anti-phishing mobile app for iOS and Android earlier this year. With these tools, it empowers security teams to quickly make time-critical decisions from their mobile devices.