Emerging Tech Hub: Anti-phishing vendor Ironscales nets $6.5m funding

Vendor continues channel growth after launching in the UK earlier this year

Phishing remediation vendor Ironscales has raised $6.5m (£4.8m) in Series A funding, taking its total funding to $8m.

Ironscales was founded in 2013 and launched into the UK channel earlier this year with four channel partners, including Performanta.

The vendor said it will use the investment to "accelerate its channel programme", expand its global sales teams and develop its machine-learning capabilities.

Ironscales CEO Eyal Benishti said: "The overwhelming majority of the world's most devastating cyberattacks of recent years have begun with email phishing.

"Ironscales' multi-layered and automated approach to email phishing mitigation uses machine-learning technology that continuously gets smarter, empowering organisations to reduce cybersecurity risk in the midst of the unprecedented frequency and complexity of attacks."

Ironscales' solution works by monitoring the content that end users flag as phishing content and learning from their habits to predict future attacks.

It will use the funding to expand the Israeli firm's global footprint, with David Burnett recently joining as UK VP and a north American base set to open in Atlanta next year.

K1 Investment Management led the funding round, with managing partner Hasan Askari saying: "Ironscales' unique approach to phishing detection and remediation particularly resonated with the K1 team, and we are looking forward to leveraging our previous experience in partnering with growing security companies as the company strengthens its position within a rapidly evolving market.

"We are excited at the opportunity to be a long-term capital partner for Eyal and the Ironscales team."