IRONSCALES raises $64 million Series C for email security platform

IRONSCALES, which develops AI-powered email security solutions, has announced 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. The company’s Seed round was led by Elron Ventures.

IRONSCALES’ cloud-native, API-based email security software platform continuously detects and remediates 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 Tel Aviv in 2014, IRONSCALES serves over 5,000 organizations globally of all sizes and across industries. The company was founded by alumni of the Israel Defense Force’s elite Intelligence Technology unit, and is currently headquartered in Atlanta, Georgia.

“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.

“The significant demand for email security continues to climb, with the market expected to grow to roughly $9.4 billion by 2027,” said Ronen Nir, Senior Advisor at PSG.