Email and collaboration security startup Perception Point Inc. has raised $28 million in new funding to expand to new markets, accelerate product development and hire more people.

The Series B round was led by Red Dot Capital Partners and included NGP Capital, Pitango Venture Capital and State of Mind Ventures.

Founded in 2015, Perception Point describes itself as a prevention-as-a-service company that offers interception of any content-based attacks across email, cloud storage, customer relationship management app and messaging platforms. Offering 360-degree protection, the service is designed to be easy to deploy, maintain and update with prevention support against the latest attack techniques.

Under the hood Perception Point’s technology deploys seven layers of next-generation static and dynamic engines that work together to prevent content-based attacks. The technology is designed to protect against a range of attacks including advanced persistent threat groups, phishing, malware, spam, business email compromise attacks and more.

In addition, customers have direct access to the company’s cybersecurity and email experts, who serve as an extended security operations center team with 24/7 support.

Over the last year, Perception Point has tripled its recurring revenue off an undisclosed base and expanded its customer portfolio to include users from multiple industries, such as telecom, tech, retail, food and beverage, healthcare and financial services. The company also doubled its number of Fortune 500 customers.

A year into the pandemic, the switch to remote work and digital adoption driven by COVID-19 has also driven the company’s growth as enterprises need to be responsive to any challenge.

“The beauty of Perception Point is that it addresses challenges that many companies encounter today, offering a 360-degree, SaaS solution that enhances enterprise security and allows users to become more agile and responsive,” Yoram Oron, chairman and managing partner at Red Dot Capital Partners, said in a statement.

Including the new funding, Perception Point has raised $38 million, according to data from Crunchbase.

Image: Perception Point