TEL AVIV, Israel and
ATLANTA, June 12, 2019 /PRNewswire-PRWeb/
-- IRONSCALES, the world's first automated phishing
prevention, detection and response platform, today announced that
it has closed a $15 million Series B,
led by returning investor K1 Investment Management, the leading
investment firm focused on enterprise software. A globally
recognized leader in anti-phishing innovation, IRONSCALES will use
the funding to scale its North American sales and marketing teams,
while continuing to invest in ongoing research and development of
its AI-driven anti-phishing platform. In total, IRONSCALES has now
raised more than $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 Eyal Benishti,
IRONSCALES founder and CEO. "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."
Propelled by a global channel partner program, IRONSCALES has
experienced triple-digit revenue growth over the past 12 months.
Its award-winning advanced phishing threat protection platform has
attracted nearly 1,000 customers across financial services,
healthcare, retail, education and other industries. Additionally,
its channel program currently boasts more than 50 partners spanning
leading 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
headcount in the coming months.
Email security at the mailbox-level
The global email security market is expected to surpass
$18 billion by 2023, as businesses of
all sizes seek to reduce the inherent cyber risks posed by
malicious messages. In recent years, those risks have been
amplified due to vulnerabilities spurred by the acceleration of
enterprise cloud migration and the proliferation of advanced
phishing techniques, such as business email compromise,
polymorphism and ransomware, which are built to easily defeat
traditional human and technical controls, such as secure email
gateways.
"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.
Earlier this year, IRONSCALES released the email security
industry's first anti-phishing mobile app for iOS and Android,
empowering security teams to quickly make time-critical decisions
from their mobile devices. In 2018, IRONSCALES was awarded the
AI-Powered Email Security Innovation Award by Frost & Sullivan
and named the Best Enterprise Email Security Solution by the
Cybersecurity Breakthrough Awards.
For more information on IRONSCALES, visit
http://www.ironscales.com and follow @ironscales on Twitter and
LinkedIn.
About IRONSCALES:
IRONSCALES is the leader in anti-email phishing technologies. Using
a multi-layered and automated approach to prevent, detect and
respond to today's sophisticated email phishing attacks, IRONSCALES
expedites the time from phishing attack discovery to
enterprise-wide remediation from months to seconds, by
significantly reducing the workload on incident responders. With
headquarters in Tel Aviv and
Atlanta, IRONSCALES was founded by
a team of security researchers, IT and penetration testing experts,
as well as specialists in the field of effective interactive
training, in response to the phishing epidemic that today costs
companies millions of dollars annually. It was incubated at the
8200 EISP, the top program for cyber security ventures, founded by
alumni of the Israel Defense Forces' elite Intelligence Technology
unit.
About K1 Investment Management
K1 builds category leading enterprise software companies. As a
global investment firm, K1 assists high-growth businesses achieve
successful outcomes. K1 invests alongside strong management teams
that continue to guide their organizations on a day-to-day basis.
With over 75 professionals, K1 changes industry landscapes by
assisting with operationally-focused growth strategies. Since
inception of the firm, K1 has partnered with over 100 enterprise
software companies including industry leaders such as Apttus,
Buildium, Certify, Checkmarx, ChiroTouch, Chrome River, Clarizen,
ControlUp, Granicus, IronScales, Jobvite, Onit, Rave, RFPIO, Smarsh
and WorkForce Software. For more information about K1, please visit
http://www.k1capital.com or
http://www.linkedin.com/company/k1im
SOURCE IRONSCALES