Over 90 percent of Cyberattacks Begin with a Spoofed Email; Organizations Need Automated Solutions to Prevent Domain and Email Impersonation
SAN FRANCISCO, Calif. — Valimail today announced that its annual revenue tripled in 2017 as a result of being first to market with a cloud-based service that provides fully automated email authentication. Last year, the company added more than 50 global brands and public sector clients, enabling these companies to protect their brands with email authentication and get to enforcement in an average of 100 days. These customers include Yelp, Uber, Fannie Mae, Pure Storage, WeWork, and MongoDB.
“We’ve turned email authentication from a painful, manual process that over 70 percent of organizations fail to complete into a turnkey, automated solution that can be implemented within days,” said Alexander García-Tobar, the CEO and co-founder of Valimail. “When our customers implement Valimail, they can easily ensure that only authorized senders can use their domain names in email messages. This shuts down virtually all email impersonation and protects the organization’s brand.”
In 2017, Valimail continued to build its market momentum by expanding globally and forging key business development relationships to make its services more widely available. As a result, the company made the following accomplishments during 2017:
- Blocked more than 3.5 billion fraudulent emails.
- Secured three patents for unique innovations pertaining to the core of email authentication, eliminating previous shortcomings with SPF and DKIM in a completely standards-compliant way.
- Achieved Privacy Shield Certification and SOC 2 Type 1 Certification, providing assurance for customers around the globe that Valimail has high standards for safeguarding the security, privacy, and integrity of their data.
- Was recognized as a critical element in the email security ecosystem through strategic partnerships with Adobe, Splunk, SendGrid, SparkPost, and Neustar, and in the federal arena with FedResults, making Valimail’s innovative service available to a wide range of enterprise and government customers.
- Completed a major upgrade of the Valimail service architecture and added points of presence in EMEA and Asia Pacific, augmenting two existing PoPs in North America, to ensure global availability and security.
- Achieved industry recognition as one of CIO Review’s 20 Most Promising Enterprise Security Solution Providers, was recognized as an MIT Sloan Symposium Innovation Showcase nominee, and earned a spot on the Online Trust Alliance Honor Roll.
- Hired Mandeep Khera as chief marketing officer and William Stephens as vice president of product (see announcement here). In addition, Valimail added Izak Mutlu, the former chief information security officer of Salesforce.com, to its board of advisors.
“Valimail’s growth shows that email authentication is a must-have in the fight against cyber threats,” said Jason Pressman, managing director at Shasta Ventures and Valimail board member. “With more than 100 million domains and other devices needing authentication, the market potential is enormous. We’re honored to partner with Valimail as they help businesses stop email fraud and protect their customers.”
In the past year, email authentication through DMARC (Domain-based Message Authentication, Reporting, and Conformance) has won global support. More than 76 percent of mailboxes worldwide check and enforce DMARC policies for inbound email, and the number of domains that publish DMARC policies has tripled in the past 12 months, to more than 240,000.
“DMARC’s growth has been propelled by the clear value it provides, as well as the FTC’s recent recommendation that businesses use DMARC, and by the DHS mandate that U.S. federal agencies deploy DMARC in 2018,” said García-Tobar. “For businesses, DMARC at enforcement is rapidly becoming de rigeur. It is now a component of basic Internet security, like HTTPS and firewalls. We’re proud and humbled to be part of this global movement.”
The Valimail email authentication service, Valimail Enforce™, helps companies manage their ever-shifting email infrastructures by automating the process of authorizing senders. Valimail is the only vendor to guarantee that customers will get their DMARC records to an enforcement policy.