Email phishing and business email compromise (BEC) attacks can spell financial disaster for companies. To further its mission to put a stop to fake email, cybersecurity startup Valimail announced a $45 million Series C investment last week.
This latest round of capital brings the company’s combined funding to $84 million, after investments from previous investors such as Tenaya Capital, Shasta Ventures, Bloomberg Beta and Flybridge Capital Partners.
"Phishing and business email compromise (BEC) attacks are on the rise around the world and the losses have mounted into the billions. It's clear that other email security technologies have not solved this urgent global problem," said Thomas Krane, Vice President at Insight.
Valimail describes identity authentication as the foundation of email security, since impersonators can evade detection on existing email security solutions. The company’s Trust Layer™ validates sender identity, both for inbound and outbound email to eliminate threats for enterprises and their customers and partners alike.
"By delivering the world's first fully-automated, identity-based solution for protecting email, we are transforming the way the global enterprise thinks about email security. In short, we are delivering trust – we make enterprise email trustworthy, both for inbound and outbound messages."
"By delivering the world's first fully-automated, identity-based solution for protecting email, we are transforming the way the global enterprise thinks about email security," said Valimail CEO and co-founder Alexander García-Tobar. "In short, we are delivering trust – we make enterprise email trustworthy, both for inbound and outbound messages."
The company has been actively expanding its network of VARs, SIs and email security vendors, with notable partnerships with Symantec and Microsoft. Plans for funding include product expansions, partnerships and sales growth.
