Red Sift today announced that it raised $54 million in Series B funding. Highland Europe led the round with participation from new and existing investors, including Sands Capital, MMC Ventures, and Oxford Capital Partners. Sam Brooks, partner at Highland Europe, and Michael Graninger, partner at SANDS Capital, will join the company’s Board of Directors. The new investment brings Red Sift’s total funding raised to $69.8 million.
Red Sift will use the funds to further accelerate its global expansion with plans for a new US headquarters in Austin, Texas, and growth initiatives across the Asia Pacific, Europe, and Middle East regions. Additionally, the company is hiring across all departments, and doubling down on its platform innovation.
With the number of phishing, ransomware, and economy-level disruptions continuing to rise, Red Sift is committed to investing in its suite of cybersecurity products and accelerating technical innovation. To work in unison with its award-winning DMARC product OnDMARC, and advanced threat protection solution OnINBOX, Red Sift is also unveiling its latest solution OnDOMAIN. OnDOMAIN 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.
As the only integrated cloud email security and brand protection platform for Office 365 and Google Workspace, Red Sift also automates Brand Indicators for Message Identification (BIMI) and DMARC certification through OnDMARC. Red Sift, alongside partner Entrust, delivers the only integrated solution that helps organizations achieve BIMI certification to enhance email security and protect brand reputation.
“It has never been more important for organizations 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 significant company momentum. In the last 12 months, Red Sift:
- More than doubled its annual recurring revenue.
- Added board of directors: Mike Hedger (Chairman), ex-Chairman of Mimecast and AVG, and Michel van der Bel (Non-Executive Director), former President of Microsoft EMEA, to help scale the company, and leading cybersecurity expert Ciaran Martin joined Red Sift as a Special Advisor.
- Launched OnINBOX Remediation, which empowers organizations to quickly resolve phishing emails and increase workforce efficiency.
- Doubled its global headcount, adding new employees at all levels across departments. Recent strategic appointments include Mary Anne Gunn as Chief Growth Officer and Claudia Belardo as Vice President of Customer Success.
- Grew its customer base to over 700 major brands, including Domino’s Pizza Inc., ZoomInfo, Rentokil Initial plc, and PageGroup.
- Developed key strategic partnerships with leading industry players, including:
- Microsoft, adding OnINBOX as a member of Microsoft Intelligent Security Association (MISA);
- Entrust, streamlining the adoption of strong email sender authentication based on BIMI standards; and
- SecurityScorecard, adding Red Sift as its strategic partner for email security policy insights.
OnDOMAIN will become generally available in early Q2 2022. Additional details about OnDOMAIN and enhancements to the Red Sift platform will be made public as soon as that information is available. Find out more about the Red Sift platform, products, and developments on March 22nd by joining Red Sift’s exclusive webinar “Plug the gap in your email security.”
