Cybersecurity startup Mailprotector has netted $5m in a growth equity round from Ballast Point Ventures.
With the fresh equity, Mailprotector hopes to enhance its product development, increase sales and marketing efforts and expand its services to its clients. The company will also hire 30 more personnel across all of its teams.
Mailprotector is a cloud-based email security, compliance, encryption and hosting platform which helps businesses safeguard their emails.
Its products include email security, email continuity, email archiving, email encryption and business-class hosted email solutions.
Mailprotector founder and CEO David Setzer said, “We know that email is still the prime vector for cyber-attacks, especially financially crippling ransomware and phishing threats. This investment means we can supercharge the development of our world-class cybersecurity protection tools for our partners and their clients, giving them an even stronger first line of defense against cyber threats and user error.”
In conjunction with the deal, Ballast Point Ventures partner Robert Faber will join the Mailprotector board of directors.
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