Israeli Cybersecurity startup IRONSCALES said that it increased customer bookings by nearly 700 percent in 2017 due to worldwide escalation of frequent and sophisticated spear-phishing and email spoofing attacks that are easily defeating traditional security firewalls and secure email gateways. The growth-stage cybersecurity company, which recently announced its first UK hire, enters 2018 with a global customer base spanning the energy & utilities, healthcare, financial services, manufacturing and government industries, among many others.
“2017 was a year in which organizations around the world began to witness firsthand how their legacy email security and phishing mitigation technologies can no longer detect or prevent against the onslaught of phishing emails,” said Eyal Benishti, IRONSCALES founder and CEO. “Since we founded the company, our team has worked tirelessly to educate security teams about the risks prompted during all phases of an email phishing attack. Our platform intentionally combines human intelligence with machine learning technologies to detect, prevent and remediate attacks in real-time and at all stages, and as evident by our monumental year, companies are starting to see why this approach is essential to phishing prevention.”
In addition to significant revenue growth, in 2017 IRONSCALES finalized a $6.5 million Series A led by K1 Investment Management, LLC, with participation from existing investor RDC. The company has significantly bolstered team with new hires in the United Kingdom and North America. Total staff size grew by 40 percent. In 2017, it also launched a new product, IronSights, an anti-impersonation social engineering prevention technology to detect anomalies and communication habits at the mailbox level.
IRONSCALES enables organizations to mitigate the risk associated with the technological, operational and human challenges inherent to phishing attacks. Its multi-layered and automated approach starting at the mail-box level to prevent, detect and respond to phishing emails combines micro-learning phishing simulation and awareness training (IronSchool), with mailbox-level phishing detection (IronSights), automated incident response (IronTraps) and real-time automated actionable intelligence sharing (Federation). By combing human intelligence with machine learning, IRONSCALES’ customers reduce false positives and the time from email phishing attack discovery to enterprise-wide remediation from days, weeks or months to just seconds, with little to no security team involvement.