IRONSCALES Increases Annual Revenue by 302 Percent; Grows Global Email Security Client Roster in 2016

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Leader in Automatic Phishing Mitigation and Remediation Gains Momentum in Critical Infrastructure, Financial Services, Healthcare and Insurance Industries

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Our significant growth in 2016 validates the market need to combine human intelligence with machine learning to automatically prevent, detect and respond to modern day email phishing attacks.

IRONSCALES, the first and only automated email phishing response solution to combine human intelligence with machine learning, today announced that it increased its annual revenue by 302 percent in 2016. The company’s growth was spurred by new customers spanning critical infrastructure, financial services, insurance and healthcare, among other industries. The high-growth Israeli email security startup now boasts more than 100 enterprise customers across North America, Europe, Asia and Africa.

“As targeted phishing attacks increase in both sophistication and complexity, enterprises worldwide are beginning to realize the limitations of employee training in effectively deterring cyber criminals,” said Eyal Benishti, founder and CEO of IRONSCALES. “Our significant growth in 2016 validates the market need to combine human intelligence with machine learning to automatically prevent, detect and respond to modern day email phishing attacks.”

In addition to significant growth in both revenue and client roster, IRONSCALES’ 2016 milestones include:

  • Closes $1.5 million in seed funding
  • Launches global attack intelligence network, Federation, a tool that automatically and anonymously shares phishing attack intelligence with enterprises and organizations worldwide
  • Successfully stops a Locky spear-phishing attack on one of Israel’s largest defense companies
  • Launches first and only anti-phishing Managed Security Service Provider (MSSP) program, providing phishing simulation, employee awareness training, threat intelligence sharing and automated incident response
  • Named an Excellence Awards finalist in the Best Email Security Solution Category for the 2017 SC Awards
  • Named a Cybersecurity Excellence Awards finalist in the Best Cybersecurity Startup Category

IRONSCALES employee-based intrusion prevention system, known as IronTraps, empowers employees to report suspicious emails with one-click on their toolbar in both Outlook and Gmail clients, subsequently triggering a real-time automated forensic review without requiring active SOC team participation. Within minutes, forensics is completed, and an intrusion signature is sent directly to both endpoints, email servers and the SIEM, which then triggers an immediate enterprise-wide automatic mitigation response, such as quarantines, disabling of links and attachments, and even permanent removal of email, reducing risk by protecting entire organizations from attack. The automated phishing response technology is also intelligent enough to analyze the maliciousness of a threat and remove it from all employee inboxes to prevent it from spreading – all of which alleviates the burden on the SOC team. Finally, with IronTraps, each time a malicious phishing or spear-phishing event is detected, the machine remembers it, preventing the same type of scam from ever successfully infiltrating another computer within the same network ever again. Complementing IronTraps is Federation, a tool that automatically and anonymously shares phishing attack intelligence with enterprises and organizations worldwide.

For more information on IRONSCALES, visit our website at http://www.ironscales.com and follow us @ironscales on Twitter.

About IRONSCALES
IRONSCALES is the first and only automated email phishing response solution to combine human intelligence with machine learning. Its employee-based intrusion prevention system is the first phishing solution with an automatic one-click response, which expedites the time from phishing attack to remediation from weeks to seconds, without ever needing the SOC team's involvement. Headquartered in Raanana, Israel, IRONSCALES was founded by a team of security researchers, IT and penetration testing experts, as well as specialists in the field of effective interactive training, in response to the increasing phishing epidemic that today costs companies millions of dollars annually. It was incubated in the 8200 EISP, the top program for cyber security ventures, founded by alumni of the Israel Defense Forces’ elite Intelligence Technology unit.

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Caroline Cassidy
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