Self-Learning Email Security Company IRONSCALES Raises $8 Million

By Annie Baker ● August 13, 2020
  • IRONSCALES — a pioneer of self-learning email security — announced that it has raised $8 million in Series B extension led by Jump Capital

IRONSCALES — a pioneer of self-learning email security — announced that it has raised $8 million in Series B extension led by Jump Capital. This funding round will add to the $15 million previously contributed by current investor K1 Investment Management.

With this round of funding, IRONSCALES plans to further accelerate its aggressive growth strategy through market expansion and ongoing research and development of its email security platform.

In connection with the partnership, Jump Capital Partner Saurabh Sharma will join the IRONSCALES Board of Directors. Sharma leads IT Infrastructure and Application Software investments for Jump Capital and brings a diverse background in investing, operations, and product management.

In connection with the funding news, IRONSCALES also announced that it has hired Matthew McNulty as SVP of Worldwide Sales. McNulty is joining IRONSCALES as a seasoned sales, operations, and finance expert — previously working as SVP of International Sales at security awareness training and simulated phishing platform KnowBe4.

So far this year, the email security company has scaled its North American sales and marketing teams, expanded into new territories and unveiled a number of platform updates and new tools available to customers and partners.

The company also upgraded IRONSCALES’ AI-driven virtual security analyst called Themis to be fully autonomous in the classification and removal of email threats. And with the tool, security analysts can now measurably increase the speed and accuracy of their email security through automated time-sensitive decisions on email threat mitigation.

This year, the company also introduced the industry’s first Phishing Emulator — a fully automated solution that enables security professionals to evaluate their organization’s email security defenses by relaunching real-world and unmodified phishing attacks built to bypass secure email gateways and authentication protocols.

KEY QUOTES:

“While we weren’t actively seeking capital, partnering with Jump was too good of an opportunity for us to pass up. With this Series B extension, and with Jump and McNulty on our team, we will be able to accelerate our marketplace momentum through investments in both people and technology, helping reduce the risk from what has become a global email phishing epidemic.”

— Eyal Benishti, IRONSCALES founder and CEO

“Phishing remains one of the largest attack vectors for cybercriminals. Even though enterprises are investing heavily in cloud-native security infrastructure, they still rely on legacy secure email gateway products to fight increasingly sophisticated and socially engineered phishing attacks. IRONSCALES is a recognized industry leader in anti-phishing for new-age cloud email ecosystems and its comprehensive self-learning security platform combines advanced machine learning with human intelligence to continuously evolve with the phishing landscape.”

— Jump Capital Partner Saurabh Sharma