IRONSCALES, an Israel-based provider of AI-powered email security solutions, 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.
“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.”
IRONSCALES is an email security company focused on fighting back against today’s modern phishing attacks. The firm’s self-learning, AI-driven platform continuously detects and remediates advanced threats like Business Email Compromise (BEC), credential harvesting, Account Takeover (ATO) and more. The firm’s powerfully simple email security solution is fast to deploy, easy to manage and keeps our customers safe. Founded in Tel Aviv, Israel in 2014 by alumni of the Israel Defense Force’s elite Intelligence Technology unit, IRONSCALES is headquartered in Atlanta, Georgia.
PSG is a growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 85 companies and facilitated over 325 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London.
K1 is a global investment firm that builds category-leading enterprise software companies. K1 partners with strong management teams of high-growth technology businesses to help them achieve successful outcomes. With over 110 professionals, K1 and its operating affiliate, K1 Operations, change industry landscapes with operationally-focused growth strategies designed to rapidly scale portfolio companies. Since inception of the firm, K1 has partnered with over 170 enterprise software companies including industry leaders such as Apttus, Buildium, Checkmarx, Clarizen, ControlUp, Emburse, FMG Suite, Granicus, IronScales, Litera Microsystems, Onit, Rave Mobile Safety, RFPIO, Smarsh, WorkForce Software and Zapproved.
Jump Capital is a thesis-led venture investor specializing in scalable software opportunities in fintech, crypto, IT and data infrastructure, and vertical SaaS solutions. In addition to capital, Jump provides advocacy and support for entrepreneurs, complemented with institutional level resources.