CyberTech company PhishFirewall, which offers AI-driven cybersecurity awareness education and threat emulation, has netted $2.5m in its seed funding round
The Cox Group, which offers technology-driven solutions for the transportation, warehousing and distribution companies, led the round. As part of the deal, Cox Group president Barry Cox will join PhishFirewall’s board of directors.
PhishFirewall leverages automated and individualised social engineering and training to create a “human firewall.”
It was founded by ethical hacker and cybersecurity consultant Joshua Crumbaugh, who spent decades protecting global enterprises. PhishFirewall was created after Crumbaugh noted the need for a scalable tool that educates staff about cybersecurity problems efficiently. Current solutions, he claimed, were underperforming and employees would click phishes and expose a company.
PhishFirewall founder and CTO Joshua Crumbaugh said, “Cybersecurity is a human problem, not a technology problem. Our approach combines proven technology and neuroscience to move beyond temporary memorisation and train human instincts for sustained awareness. When we audit the behaviours of a typical new client, we find that roughly 20% of hacker emails are clicked on by their employees.
“That means one-fifth of all data breeches and ransomware attempts were successful, at significant risk. Within four months of employing PhishFirewall methods, we’re able to get that number down to less than 1%. By 6 months, the click-through-rate is even lower. It’s the most effective defence against ransomware and data breeches that I’ve seen.”
Copyright © 2022 FinTech Global
