Phishing protection provider SlashNext has secured $26m from a recent financing round.
The round saw investments from the Active Fund of the Ayala Group, Telia Group and Tom and Matt Gallo, as well as securing funding from Norwest Wing and Alter Ventures. To date, SlashNext has raised a total of $43m in capital.
Founded in 2017, California-based SlashNext offers AI-driven cloud and on-device detection of phishing. The company markets a 360° Defense Service can detect zero-hour phishing threats by performing dynamic run-time analysis on billions of URLs a day through virtual browsers and machine learning.
According to SlashNext, it intends to use the newly raised funding to grow customer acquisition and operators both in its domestic US market and globally.
SlashNext CEO Patrick Harr said, “When cybercriminals launch successful multi-channel phishing and social engineering attacks, the results are massively disruptive to people, organisations, and the economy.
“This is the number one cyber challenge that organizations face globally, and bad actors are only increasing their attacks in LinkedIn, MS Teams, Messenger and Slack and becoming more sophisticated at taking advantage of the most vulnerable part of organisations – its people.”
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Copyright © 2018 RegTech Analyst