Material Security, a Redwood City CA-based company that protects email accounts even after they have been compromised, raised $40M in Series B funding.
The round, which brought total funding to date to $62m, was led by Elad Gil, the angel investor behind Airbnb, Coinbase, Stripe and Square.
The company intends to use the funds to expand operations and its business to reach to additional geographies, as well as to grow R&D efforts.
Led by Ryan Noon, CEO and cofounder, Material Security provides a product suite that delivers admin visibility and control, account takeover prevention, anti-phishing and data leak prevention services. Specifically, the company offers:
- Visibility and Control: Material identifies common email security risks and pairs them with one-click remediations across the product suite.
- Leak Prevention: Hackers with access to a mailbox are blocked from stealing a huge archive of sensitive, personal data.
- Account Takeover Prevention: Hackers with access to a mailbox can’t reset passwords to other apps and steal money, data and sensitive information.
- Phishing Herd Immunity: Ordinary users can automatically protect their entire organization from its weakest links (and even train their colleagues to be more vigilant).