London based cybersecurity firm Yes Red Sift closed $ 54m (£ 40m) in a Series B funding round to stimulate its global expansion, including a new headquarters in Austin, Texas.
The round of funding was led by Highland Europe’s European growth investor, which included other investors Sands Capital, Oxford Capital and MMC Ventures.
Red Sift was founded by Rahul Powar and Randal Pinto in 2015. The company provides an integrated cloud email security platform and brand protection. It automates BIMI and DMARC processes to stop email compromise and secures domains from personalization to stop attacks.
The company says it has doubled its annual recurring revenue over the past 12 months and now has more than 700 brands among its customers, including Domino’s Pizza, Wise and ITV.
Red Sift will also use the additional capital for growth in Asia-Pacific, Europe, and the Middle East. It will also increase its staff numbers.
Highland Europe partner Sam Brooks and SANDS Capital partner Michael Graninger will be a member of Red Sift’s board of directors.
“With phishing attacks now ubiquitous, the enterprise needs a Red Sift cloud security platform that prevents domain personalization and provides inbox protection,” Brooks said.
Graninger added: “Phishing, ransomware and cyber-interference are significant threats that affect everyone in today’s world. Red Sift continues to be a loyal partner to its customers in tackling the evil members by offering a platform to protect organizations from multiple, diverse and interconnected threat vectors. ”
Red Sift has offices in the UK, North America, Spain and Australia. Last September he raised $ 8.8m in shares Series A round bringing its total funding at the time to $ 69.8m.
Investment follows record year for UK cybersecurity investment, with £ 1bn invested UK companies in 2021.
London cybersecurity startup Red Sift is raising £ 40m to open US HQ
Source link London cybersecurity startup Red Sift is raising £ 40m to open US HQ