IRONSCALES Grows ARR 72% in 2020 Driven by Market Expansion

2020 Jan 19

TEL AVIV & ATLANTA (PRWEB) JANUARY 19, 2021

IRONSCALES, the pioneer of self-learning email security, today announced that it increased annual recurring revenue by 72% in 2020, driven by a 44% increase in new channel partnerships, a 155% increase in customers and an expanded global footprint within 18 new territories and markets, including India, United Arab Emirates and South Africa. The growth was distributed across a variety of industries, with technology, healthcare, manufacturing and financial services leading the way.

IRONSCALES also extended its Series B in 2020, with an $8 million investment from Chicago-based venture and growth capital firm Jump Capital. The capital was used to scale research and development and talent acquisition. In total, IRONSCALES hired 20 new full-time staff in 2020, and intends to bring on another 40 employees in the year to come.

“For the past 8 years, IRONSCALES has led with a product-first approach in order to convey ultimate value to our customers with the most cutting-edge solution in the email security market, and we’re seeing that strategy pay off in dividends,” said Eyal Benishti, IRONSCALES founder and CEO. “2020 brought new challenges to the world of business, with remote work causing gaps in many companies’ security stacks. Our customers were well prepared to meet the moment and remediate all types of phishing attacks, including BEC attacks that continue to bypass SEGs at an alarming rate.”

Some of IRONSCALES’ biggest 2020 milestones also include:

  • Surpassing more than 1,000 active security professionals worldwide, marking cybersecurity’s largest community of incident responders. IRONSCALES customers uniquely benefit from real-time, human verified, actionable threat intelligence through constant collaboration with alike SOC teams across the entire platform.
  • An upgrade of Themis, IRONSCALES’ AI-driven virtual security analyst, which now has the ability to be fully autonomous in the classification and removal of email threats. With Themis, security analysts can now measurably increase the speed and accuracy of their email security through automated time-sensitive decisions on email threat mitigation.
  • The industry’s first Phishing Emulator™, a fully automated solution that 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.
  • The deployment of natural language understanding, which uses advanced machine learning and neural networks, to automatically detect and respond to the most common types of business email compromise (BEC) attacks.
  • The launch of an in-app chat tool that encourages the sharing of phishing threat detection and open collaboration within security teams and amongst the global community of security analysts.
  • Integrations with Swimlane, as well as Microsoft Teams and Slack, to improve real-time email phishing incident alerts, statistics and threat details.
  • IRONSCALES won 7 cybersecurity awards including: “Most Innovative AI and Machine Learning Application” from Cyber Defense Magazine, a gold award in “AI in Security and Incident Analysis & Response” from InfoSecurity Product Guide, as well as being shortlisted for best security company of the year from Cyber Security Awards and American Cyber Awards.
  • The identification of 6 prominent phishing attacks that bypassed SEGs, including a spear-phishing attack spoofing microsoft.com and a BEC attack targeting remote workers using Private Branch Exchange (PBX) to check voicemail messages.

IRONSCALES helps where email security hurts the most, in the inbox, with advanced threat protection followed by a post-message delivery, detection and remediation. Through a self-learning platform that provides for fast, easy and seamless collaboration, IRONSCALES puts its customers on offense, empowering them to protect against sophisticated email attack techniques automatically in a proactive and predictive manner. Using a democratized approach to threat hunting, IRONSCALES makes anti-phishing effortless and seamless for both security professionals and end users.

For more information about IRONSCALES, users should visit the webpage to contact the team and learn more about the company’s latest features, or follow IRONSCALES on Twitter and LinkedIn.

About IRONSCALES

IRONSCALES is the future of phishing protection, incubated inside the world’s top venture program for cybersecurity and founded by alumni of the Israeli Defense Forces’ elite Intelligence Technology unit. We offer security professionals and end users an AI-driven, self-learning email security platform that provides a comprehensive solution to proactively fight phishing attacks. Using the world’s most decentralized threat protection network, our platform accelerates the prevention, detection and remediation of phishing attacks already inside your email with threat removal times in seconds, not minutes or hours. We give organizations of all sizes complete anti-phishing protection against any type of phishing attack. Visit https://www.ironscales.com to learn more.