Investment aims to accelerate growth through continued product innovation and global expansion
IRONSCALES, a leading provider of AI-powered email security solutions, announced today that it has raised $64 million in a Series C funding round led by PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies, with participation from existing investors K1 Investment Management and Jump Capital.
IRONSCALES’ cloud-native, API-based email security software platform is self-learning to continuously detect and remediate advanced threats, such as business email compromise, credential harvesting and account takeover in companies’ mailboxes. The platform reduces identification of suspicious mail to seconds at scale across organizations. To complement its phishing detection and incident response capabilities, IRONSCALES’ platform includes a phishing simulation and training module to educate employees and further bolster resiliency against cyber threats. Founded in 2014, IRONSCALES serves over 5,000 organizations globally of all sizes and across industries. The company plans to use the new funding to expand its international footprint and continue to grow its platform’s capabilities.
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“As phishing attempts continue to become more sophisticated, it’s critical for organizations to adopt an agile defense system. We believe IRONSCALES provides a comprehensive, self-learning solution that continuously evolves to effectively protect digital environments,” said Eyal Benishti, Founder and CEO of IRONSCALES. “We look forward to partnering with PSG, as we aim to continue to deliver innovative security solutions for our growing global customer base to help them meaningfully improve their resilience.”
“The significant demand for email security continues to climb, with the market expected to grow to roughly $9.4 billion by 2027. We believe IRONSCALES is a leader in this category and positioned for widespread adoption given its nimble, effective and easy-to-deploy platform,” said Ronen Nir, Senior Advisor at PSG. “We’re excited to work with the IRONSCALES team as they seek to expand their platform and address the extensive growth opportunities ahead.”
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