Security News > 2020 > June > Pre-Emptive Anti-Phishing Firm Area 1 Security Raises $25 Million
Redwood, California-based anti-phishing firm Area 1 Security has raised $25 million in a Series D funding round led by ForgePoint Capital and supported by existing investors Kleiner Perkins, Icon Ventures and Top Tier Capital.
Area 1 Security claims to have stopped 42 million phish in 2019, and has thwarted $273 million in BEC fraud in the first five months of 2020.
"By focusing on the earliest stages of an attack combined with the industry's leading small pattern analytics technology, Area 1 is uniquely able to bring preemption to email security. We stop phishing campaigns prior to them inflicting any damage."
Area 1 is the first and so far only performance-based, email security company: customers only pay per each phish caught.
The firm raised $8 million in a Series A funding round in 2014, $15 million in Series B in 2015, and $32 million in a Series C round in 2018.