UPDATED 08:00 EDT / FEBRUARY 24 2022

SECURITY

Cloud email security and brand protection startup Red Sift rises $54M

Cloud email security and brand protection startup Redsift Ltd. said today it has raised $54 million in new funding to accelerate its global expansion and double down on its platform innovation.

Highland Europe led the Series B round with SANDS Capital, MMC Ventures and other strategic investors also participating. Including the new funding, Red Sift has raised $69.8 million to date.

Founded in 2015, Red Sift offers a data analytics platform purpose-built for cybersecurity. Using artificial intelligence, the platform securely collates, computes and visualizes data from thousands of individual signals to help organizations to optimize their cybersecurity.

Red Sift pitches its platform as enabling security-first organizations to communicate with and ensure the trust of their employees, vendors and customers. The platform automates brand indicators for message identification and domain-based message authentication, reporting and conformance processes making it easy to identify and stop business email compromise.

The company’s platform offers cloud email security and brand protection for Microsoft Corp.’s Office 365 and Google LLC Workspace.

Though it didn’t provide absolute numbers, Red Sift has seen strong growth, more than doubling its annual recurring revenue in the last 12 months. The company’s headcount has also increased nearly twofold with its customer base up 40% over the same period. Notable customers include Domino’s Pizza Inc., Rentokil Initial plc, Wise PLC, ITV Consumer Ltd., Telefónica S.A. and PageGroup PLC.

“It has never been more important for security-conscious organizations to successfully communicate with and ensure the trust of their employees, vendors and customers,” Rahul Powar, chief executive officer of Red Sift, said in a statement. “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 lets us iterate quickly across multiple products that all share a solid, enterprise-ready foundation.”

Along with the funding announcement, Red Sift also announced its latest solution, called OnDOMAIN. The new service is designed to stop phishing attacks as they are being prepared and before they reach the inboxes of employees and customers. OnDOMAIN extends the Red Sift platform by protecting organizations and supply chains from impersonation attacks using lookalike domains.

Image: Red Sift

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