Red Sift, renowned integrated cloud email security and brand protection platform provider, today announced it raised $54 million in Series B funding. Highland Europe led the round with participation from other investors including Sands Capital, Oxford Capital and MMC Ventures.
Brooks, partner at Highland Europe, and Michael Graninger, partner at Sands Capital, will join the company’s board of directors, and the new investment brings Red Sift’s total funding raised to $69.8 million.
Red Sift, founded in 2015 with offices in the UK, North America, Spain and Australia, will use the funds to further accelerate its global expansion with plans for a new US headquarters in Austin, Texas, and growth initiatives in the Asia Pacific, Europe and Middle East regions. The company is also hiring across all departments and doubling down on its platform innovation.
With phishing, ransomware and economy-level disruptions on the rise, Red Sift continues to invest in its suite of cybersecurity products and accelerate technical innovation. To work in unison with its DMARC product OnDMARC, and advanced threat protection solution OnINBOX, Red Sift is also unveiling OnDOMAIN, which 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.
“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, CEO of Red Sift. “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. We are grateful for the support of our investors to scale our platform and deliver even more value to our customers.”
The funding comes amid notable company momentum as in the last year, according to Red Sift, it has more than doubled its annual recurring revenue, grew its customer base to over 700 major brands and doubled its global headcount.
“Red Sift's commitment and investment in the channel will continue to grow with the news of our series B funding,” added Adrian Stacey, VP sales at Red Sift. “Since the end of last year, we’ve invested in dedicated channel functions across the business and are committed to creating meaningful technologies that are critical to protecting our customers' data, employees and brand. This investment means we can execute our key strategies for 2022: creating our channel brand, partner scale and growth, and delivering robust solutions to our partner community.”
Sam Brooks, principal at Highland Europe added: “We’ve been impressed by the technical prowess and commercial momentum achieved by Rahul, Randal Pinto and [the Red Sift] team in a short time and are delighted to have the opportunity to partner with them.”
OnDOMAIN will become generally available in early Q2 2022 as will enhancements to the Red Sift platform.
