Tuesday, January 19, 2016

IronScales Raises Seed Funding for IPS with Phishing Mitigation

IronScales, a start-up based in Israel, announced $1.5 million in seed funding for its development of an intrusion prevention system with an automated phishing-mitigation response.

IronScales said its crowd-wisdom-based phishing-mitigation solution helps protect enterprises from cyber-crimes whereby criminals attempt to deceive employees into revealing sensitive information such as usernames and passwords so they can then install spyware, remote-access Trojan horse attacks or ransomware. The IronScales solution is currently in use by dozens of customers in the financial sector, as well as security and telecom companies.

The $1.5 million round was led by RDSeed, an investment arm of Rafael Development Corporation (RDC).

"Phishing is an insidious threat to enterprises, but the existing solutions targeting the problem simply did not go far enough,” said Eyal Benishti, IronScales CEO. “That’s why we created IronScales, not only to raise awareness of phishing attacks but to then empower employees to actually block them. When workers understand how to spot phishing attacks, they become powerful assets in helping protect their enterprises from attack.”