Material Security nabs $40m in its Series B round

Material Security, which helps companies protect their emails, has closed its Series B funding round on $40m.

The round was led by serial entrepreneur Elad Gil, with commitments also coming from Andreessen Horowitz and several top-tier executives and security experts.

Founded by Abhishek Agrawal, Chris Park and Ryan Noon, the company was founded following the 2016 US elections due to the bad state of email protection.

The company’s platform offers data-driven security software to protect an organisation’s data and users. With Zero-trust security in emails, companies can protect themselves even if they are compromised or harmful messages get through.

Its solutions include leak prevention, account takeovers and phishing protection, as well as real-time search and risk analytics tools.

Material Security claims to have had a strong year for growth, which it claims culminated in 472% in business growth.

The company recently added several new clients, including Roblox, Databricks, Collective Health and Iterable.

The cybersecurity company’s previous funding round was a $22m Series A, which was led by Andreessen Horowitz back in 2018.

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