Israeli email security startup Ironscales raises $8 million Series B extension led by Jump Capital
It’s been a while since we covered Ironscales, the Tel Aviv, Israel-based next generation email security and startup. Back in June 2019, Ironscales raised $15 million Series B to detect and defeat phishing attacks using artificial intelligence. The company has grown a lot since then.
In a sign of confidence in the company, today Ironscales announced it has closed an $8 million Series B extension to further accelerate its aggressive growth strategy through market expansion and ongoing research and development of its email security platform. The round was led by Chicago-based venture and growth capital firm Jump Capital. The additional funding will add to the $15 million previously contributed by current investor K1 Investment Management.
In conjunction with funding, Ironscales announced that Jump Capital Partner Saurabh Sharma will join the its Board of Directors. Saurabh leads IT Infrastructure and Application Software investments for Jump Capital and brings a diverse background in investing, operations and product management.
Founded in 2014 by Eyal Benishti, the Tel Aviv, Israel-based Ironscales is a rapid automated phishing response platform startup that helps organizations where its email security hurts most, with post-message delivery detection and response. It’s 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.
“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,” said Sharma. “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.”
In conjunction with today’s funding news, Ironscales also announced that it has hired Matthew McNulty as SVP of Worldwide Sales. McNulty joins Ironscales as a seasoned sales, operations and finance expert, previously working as SVP of International Sales at security awareness training and simulated phishing platform KnowBe4.
“While we weren’t actively seeking capital, partnering with Jump was too good of an opportunity for us to pass up,” said Eyal Benishti, Ironscales founder and CEO. “With this Series B extension, and with Jump and McNulty on our team, we will be able to accelerate our marketplace momentum through investments in both people and technology, helping reduce the risk from what has become a global email phishing epidemic.”