Valimail raises $ 25 million for the email authentication platform that slows phishing attacks

Valimail, a cloud-based platform that uses automation to help companies establish the authenticity of emails, raised $ 25 million in a series B financing round led by Tenaya Capital, with the participation of of Shasta Ventures, Flybridge Capital Partners and Bloomberg Beta.

Founded in San Francisco in 2015, the Valimail platform adopts open standards systems such as DMARC (for "Domain-based message authentication, reporting and compliance") to prevent scammers from cheating businesses through email attacks as phishing. The company claims clients such as Uber, Yelp, WeWork and Fannie Mae.

Despite rumors to the contrary, the old communication conduit known as e-mail continues to have a discourteous health. Last year, it was thought that there were around 3,700 million email users worldwide, a figure that could exceed 4,000 million in 2021, according to research firm Radicati. Approximately 270 million emails were sent daily in 2017, and that indicator is expected to grow to 280 million this year. Messaging applications such as Messenger and WhatsApp may be popular, but email is still particularly critical in the company and in the B2C field.

However, phishing scams have caused a series of high-profile data infractions in recent years, affecting a large number of names like Snapchat and DocuSign. The exact methods vary, but a typical phishing attack can mean that a bad external actor configures an email address similar to that of a company and badumes the identity of a high-level or reliable person in that company to obtain sensitive information.

Phishing It is estimated that scams cost US companies only $ 500 million each year, which is one of the reasons why cybersecurity startups have been so mature to invest in recent times. Earlier this year, PhishMe, a startup that provides tools and services to help employees recognize malicious phishing emails, was acquired by a private equity consortium for $ 400 million. Large technology companies, including Amazon and Microsoft, have also invested in various cybersecurity initiatives.

"Valimail's technology represents the perfect convergence of a great need, a rapidly growing market and a revolutionary technology led by an experienced and disciplined team." noted the general director of Tenaya Capital, Brian Melton. "Valimail's automation platform is the best solution of its kind that has already found a substantial market and wide recognition for its technical superiority, and it will have broad application in the coming years."

Valimail was furtively launched with $ 1.5 million in financing in 2016, and in the intervening years it raised around $ 15 million in total. With another $ 25 million in the bank, the company plans to grow its platform outside the US. UU And make a career in engineering, sales, customer service and marketing.

"Valimail was founded to bring confidence to the world's communications, starting with email," added Valimail co-founder and CEO Alexander García-Tobar. "In a world of first-generation solutions with failure rates in excess of 70 percent, we believe that full automation was a necessary focus, and the last three years have shown our thesis that the market needs and values ​​automated authentication. ready to make our platform available all over the world. "

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