EasyDMARC closes seed funding to combat email phishing

EasyDMARC closes seed funding to combat email phishing

EasyDMARC, a B2B SaaS solution that improves email authentication and prevent email phishing, has collected $2.3m in seed funding.

Acrobator Ventures served as the lead investor, with commitments also coming from Formula VC and an unnamed US-based public security company.

This capital injection will help the RegTech company expand and bolster its efforts in fighting cybercrime, it said.

Its services, which are used in finance, education, nonprofit and healthcare, guard domain and email infrastructure from phishing attacks. Its software improves visibility of business email environments, business identity control, secure operations and communications and improved email deliverability.

The company has secured 30,000 businesses from 130 countries and in the past two years, it has mitigated over 82 million threats.

EasyDMARC co-founder Gerasim Hovhannisyan said, “The internet’s only sovereign and independent communication method, email, has always been a hard and convoluted problem. Although you yourself own and manage your business email infrastructure (no large corporation or government involved), the channel is still weak and non-secure.

“We strive to deliver the best all-in-one solution against business email compromise, data leaks, and financial loss.”

There is a rising threat of phishing attacks. The Federal Communications Commission (FCC) recently issued a warning to US citizens about the rising threat SMS phishing attacks pose. Based on its data on consumer complaints, it claims these attacks have risen from 5,700 incidents in 2019 to 8,500 in 2022.

In a similar vein, a report from Kroll, which offers data, technology and insights for risk and governance, claimed there was a 54% increase in phishing attacks during the first quarter of 2022. Kroll associate managing director for cyber risk Laurie Iacono said, “Employees are undoubtedly an important line of defence for any company. Security training programs need to enhance cyber awareness among employees and firms should encourage a culture where raising concerns and reporting suspicious issues is a positive thing.”

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