We're doubling down on Red Sift as it announces $54 million Series B fundraise
Following our first investment in the company, leading its Series A round in 2019, we're delighted to be backing Rahul, Randal, and the team again in this latest fundraise.
Highland Europe led the funding round for the integrated cloud email security and brand protection platform, with participation from new and existing investors, including MMC. The new investment brings Red Sift’s total funding raised to $69.8 million.
Red Sift will use the funds to further accelerate its global expansion with plans for a new US headquarters in Austin, Texas, and growth initiatives across the Asia Pacific, Europe, and Middle East regions. Additionally, the company is hiring across all departments and doubling down on its platform innovation.
You can check out available roles at Red Sift via the MMC jobs board.
With the number of phishing, ransomware, and economy-level disruptions continuing to rise, Red Sift is committed to investing in its suite of cybersecurity products and accelerating technical innovation. To work in unison with its award-winning DMARC product OnDMARC, and advanced threat protection solution OnINBOX, Red Sift is also unveiling its latest solution OnDOMAIN. OnDOMAIN enables security personnel to quickly shut down phishing sites and discover legitimate but unsecured domains while defending their brands, and those within their supply chains, against abuse and reputational damage. OnDOMAIN will become generally available in early Q2 2022.
“It has never been more important for organizations to successfully communicate with and ensure the trust of their employees, vendors, and customers,” said Rahul Powar, CEO of Red Sift. “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 enables rapid iterations across multiple products that all share a solid, enterprise-ready foundation. We are grateful for the support of our investors to scale our platform and deliver even more value to our customers.”
The funding comes amid significant company momentum. In the last 12 months, Red Sift has more than doubled its annual recurring revenue and grown its customer base to over 700 major brands, including Domino's Pizza Inc., ZoomInfo, Rentokil Initial plc, and PageGroup.
MMC's Mina Samaan had this to say about our continuing support of the Red Sift team:
“Red Sift continues to enable enterprises across the world to protect against advanced email security threats. The adoption of work-from-home policies has made it even more important for companies to protect their employee’s inboxes as email remains the root cause of most cyber-attacks. We’ve been consistently impressed with the ability of Rahul, Randal and the Red Sift team to execute and achieve their goals, which is why we’re excited to be doubling down on this business as it enters the next phase of growth.”Mina Samaan, Partner at MMC
Read more on the Red Sift story via VentureBeat.
Or check out Mina's thoughts on why we were so excited by this business at the Series A in 'The evolution of email: Why we invested in Red Sift'.