IRONSCALES Launches Phishing Emulator and Raises $15M Series B

Cybersecurity company IRONSCALES increased its annual recurring revenue by 115% in 2019, driven by a 130% increase in channel partnerships with MSSPs, MDRs, resellers and distributors. As a result, it hired a total of 21 new employees across four continents in roles spanning, sales, customer success, marketing, and research and development.

The news of email hacks is constant and so many of them cost companies millions. They can even put them out of business. Travelex, which operates over 1,000 ATMs and 1,000 stores globally, has been forced into administration (bankruptcy) and plans to eradicate 1,000 employee positions following a December 2019 ransomware attack and Covid-19 business slowdown. 

This past June, IRONSCALES launched its Phishing Emulator for Microsoft Office 365 users which enables security professionals to evaluate their organization’s email security defenses by relaunching real-world, unmodified phishing attacks built to bypass secure email gateways and authentication protocols. Users can now emulate real-world phishing attacks to see weak points in their existing email security infrastructure in just minutes.

The solution:

  • Automatically replay suspicious phishing threats in a safe environment to test the response of your security filters during a real phishing attack scenario;
  • Explore existing weaknesses in email security infrastructure that could lead to data breaches and malicious infiltration;
  • Generate reports in just minutes on security vulnerabilities, revealing the types of phishing emails that bypass email phishing defenses;
  • Show security teams the software, hardware and policy improvements needed to protect against advanced threats.

The company which now has nearly 1,000 customers, 30+ employees and 54 partners across the globe just raised a $15 million series B. With ransomware not slowing down anytime soon and morphing into extortionware with an affiliate program, we expect a bright future for the company.

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