Valimail Accelerates Authentication Of The World’s Email Through $12 Million Series A Round Led By Shasta Ventures
SAN FRANCISCO, Nov. 2, 2016 /PRNewswire/ — Valimail, the world’s first provider of automated email authentication, today announced a $12 million series A funding round led by Shasta Ventures, with follow-on investments from Flybridge Capital Partners and Bloomberg Beta. This round brings Valimail’s total funding to $13.5 million to date. The company will use the funds to meet the rapidly expanding demand for its patent-pending authentication platform which brings visibility, control, compliance, and security to cloud-based email services.
This announcement comes on the heels of an exponential growth year for the company. Founded just over a year ago, Valimail already authenticates billions of emails each month for its fast-growing and diverse client base that includes Uber, Time Warner, Yelp, Twilio, and Fenwick & West.
“Our mission is to authenticate the world’s communications, starting with email,” said Valimail CEO Alexander García-Tobar, “As cloud services multiply, enterprises realize they need visibility, control, compliance, and security to address the corresponding proliferation of cloud email services. Valimail is able to auto-identify and block 100% of unauthorized email and criminal impersonation attempts with unprecedented accuracy.”
The rapid rise of cloud services has brought an explosion of new email senders to the enterprise. As a result, companies lose visibility and control over the email sent on their behalf, creating concerns about compliance, best practices, “Shadow IT,” and modern spear phishing attacks. This trend drives the need for the discipline that authentication brings to email.
Valimail today is able to shield 2.7 billion consumer inboxes from unauthorized and imposter emails by automating implementation of an open standard called DMARC, which is enforced by the world’s largest email service providers including Google, Microsoft, Yahoo, and AOL. Though more than 60,000 domains have DMARC in place, recent research has highlighted that more than 70% are incomplete or broken and in need of an automated solution to address rampant phishing attacks, and to address Shadow IT – a concern for over 80% of the nation’s CIOs.
“Valimail has been instrumental in securing our well-known consumer brands against phishing attacks,” said Stephen Fridakis, Vice President, Chief Information Security Officer at HBO. “We look forward to a fruitful partnership with them as we continue to secure our company’s information and email communications.”
Customers can manage their approved sending services and view all email activity – authorized, unauthorized, and criminal – through a one-click online dashboard. Valimail’s use of open APIs and partner-friendly approach enables enterprises, Secure Email Gateways (SEGs), and other traditional security firms to integrate email authentication into their existing solutions.
“We are impressed by Valimail’s approach to email authentication as a service,” said Jason Pressman, Managing Director at Shasta Ventures. “The Valimail differentiated solution allows its customers visibility and control into one of their most important communication channels, allowing them to protect their brands, employees and, ultimately, their bottom line.”
Valimail provides a free domain check tool indicating whether a domain is authenticating properly and how exposed it is to phishing attacks.