London-based cybersecurity company Red Sift has raised $54 million in a Series B round. The company intends to use the funding to further drive global expansion efforts, highlighted by a planned opening of a US headquarter office in Austin, Texas. Since 2016, Red Sift has raised $69.8 million.
What once was a pandemic-driven spike in activity, phishing and ransomware attacks have become a regularity. Rising to this challenge and helping organisations keep these threats to the bottom line at bay, Red Sift offers a trio of solutions specifically designed for those most often targeted: marketing, information security, and legal and compliance teams.
The company’s OnDMARC service offers protection against domain impersonations, while OnINBOX reinforces phishing training by providing a security analysis inside every email. Now, going one step further, Red Sift has recently released, OnDOMAIN, a brand defense service that allows IT security teams to quickly shut down phishing sites and root out legitimate, but unsecured domains.
So compelling is Red Sift’s offer that the company now counts over 700 global brands amongst its customer base, including Wise, Telefonica, and pipedrive, and in the last year alone has seen annual recurring revenue numbers more than double.
Red Sift’s $54 million Series B round was led by Highland Europe and saw participation from new and existing investors including Sands Capital, Oxford Capital, and MMC Ventures.
Sands Capital’s Michael Graninger comments, “Red Sift continues to be a genuine partner to its customers in countering the bad guys by offering a platform to protect organisations from multiple, varied and interconnected threat vectors. We’re happy to continue to support Red Sift as it innovates across multiple products that all share a solid, enterprise-ready foundation.”
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