INKY Technology Corporation, a pioneer in next-gen email phishing protection, announced today the company's $20 million Series B round of funding, led by global venture capital and private equity firm Insight Partners, to accelerate enterprise adoption, global expansion and its innovation roadmap. Insight has previously invested in cybersecurity companies Darktrace, SentinelOne, Armis, and Tenable. The addition of the Series B funding brings the total investment in the company to $31.6 million.
INKY uses domain-specific machine learning and computer vision techniques to identify and block zero-day phishing emails that get through legacy secure email gateways (SEGs). Often deployed as the last line of defense before delivery to the end user's inbox, INKY blocks thousands of malicious phishing emails each month for a typical customer running an incumbent mail protection system. INKY also adds a novel color-coded banner to each email, providing end users warnings, recommendations, and policy guidance, along with a convenient "Report this Email" link that lets users report phish from their mobile devices with a single click.
"Phishing continues to plague companies of all sizes and remains the primary vector by which attackers steal money, intellectual property, and personally identifiable information," said Matt Gatto, Managing Director at Insight Partners. "Despite the ever-increasing volume of phishing scams, incumbent vendors cannot solve this problem. INKY's sophisticated machine learning-based approach to identifying phishing attacks provides enterprises with an effective weapon against phishing."
The investment comes as INKY is experiencing rapidly accelerating adoption across large, global enterprises. In conjunction with the investment, INKY is expanding the company's footprint across Europe, Asia and Latin America, to bring INKY to the global market. Through a strategic buildout of the company's channel and partner programs, INKY can now service businesses of all sizes looking to prevent disruptive phishing attacks.
"This Series B funding gives us the resources we need to serve the incredible demand we're seeing from enterprise customers in particular, and will allow us to expand our go-to-market efforts globally," said Dave Baggett, Co-Founder and CEO of INKY. "We're excited to continue to invest in innovative new ways to protect companies of all sizes from email-borne threats of all kinds. INKY has seen phishing attacks more than double since the COVID-19 pandemic began, creating an even more urgent need for us to deploy our solution globally and at scale."
Headquartered in College Park, Maryland, INKY leads the industry in mail protection powered by unique computer vision, artificial intelligence, and machine learning. The company's flagship product, INKY Phish Fence, uses these novel techniques to "see" each email much like a human does, to block phishing attacks that get through every other system. INKY founder Dave Baggett also co-founded ITA Software, the industry-leading airfare search company purchased by Google in 2011 for $730M, which now powers Google Flights®. For more information, please visit https://INKY.com/
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.