IRONSCALES, a self-learning email security solution, has scored $8m in its Series B round to support its rapid growth plans.
The investment was led by Jump Capital, a venture capital firm based in Chicago. As part of the deal, Jump Capital partner Saurabh Sharma will join the IRONSCALES board of directors.
Despite closing the round, IRONSCALES founder and CEO Eyal Benishti said the company was not actively seeking to raise funds, but the chance to partner with Jump Capital was “ too good of an opportunity for us to pass up.”
IRONSCALES will pursue its growth strategy through market expansion and continued research and development for its email security platform.
In conjunction with the round close, IRONSCALES has hired Matthew McNulty as SVP of Worldwide Sales.
Launched in 2014, IronScales aims to educate the market of email security and mitigating phishing risks. Security professionals and end users can use the AI-driven, self-learning email security solution to prevent, detect and remediate phishing attacks.
Sharma said, “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.”
The RegTech platform previously raised $15m in its Series B last year from K1 Investment Management.
Copyright © 2018 RegTech Analyst
