A cloud email cybersecurity company has raised £40 million in Series B funding.
Red Sift, which is based in London and counts Domino’s, Telefonica, Pipedrive, Rentokil and Wise among its client base, aims to protect brands against impersonation.
Highland Europe led the round with participation from new and existing investors, including SANDS Capital, Oxford Capital and MMC Ventures.
Sam Brooks, partner at Highland Europe, and Michael Graninger, partner at SANDS Capital, will join Red Sift’s board of directors.
The company will use the funds to accelerate its global expansion, with plans for a US HQ in Austin, Texas.
With the number of phishing, ransomware, and economy-level disruptions continuing to rise, Red Sift also unveiled a new solution – OnDOMAIN – that enables security personnel to quickly shut down phishing sites and discover legitimate but unsecured domains while defending their brands, and those within their supply chains, against abuse and reputational damage.
The firm more than doubled its annual recurring revenue in the last 12 months and now has more than 700 customers.
“It has never been more important for organisations to successfully communicate with and ensure the trust of their employees, vendors, and customers,” said Rahul Powar, founder and CEO.
“To be a genuine partner to our customers, we must help them protect against multiple interconnected threat vectors. As a result, we built a platform that enables rapid iterations across multiple products that all share a solid, enterprise-ready foundation.
“With this injection of funding, Red Sift is better positioned than ever to help businesses worldwide secure their email infrastructure and brands against phishing, BEC, ransomware and vendor fraud.”