Today, INKY announced it raised $20 million in its Series B funding round. The funding round was led by Insight Partners and brings total investments in the anti-phishing startup to $31.6 million. INKY plans on using the funds “to accelerate enterprise adoption, global expansion and its innovation roadmap.”
Insight Partners’ investment in INKY comes at a time when a number of large enterprises are adopting the company’s services. With Insight Partners’ investment, INKY plans to bolster its customer base by entering the global market and expanding its footprint across Europe, Asia and Latin America.
"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," shared INKY co-founder and CEO Dave Baggett.
"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," Baggett added.
To identify and block zero-day phishing emails, INKY uses domain-specific machine learning and computer-vision techniques. For typical customers, INKY can block thousands of malicious emails monthly, according to the company. To further support its customers in protecting their inboxes, INKY also provides security warnings, recommendations, policy guidance and a convenient "Report this Email" feature that allows users to report phishing emails with a single click.
Matt Gatto, managing director at Insight Partners, said of INKY’s services, "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."
Insight Partners’ investment in INKY takes place at an opportune time. Phishing emails continue to plague individuals and organizations, as 22% of all breaches are caused by phishing, per Verizon’s yearly data breach report. This makes INKY’s services more useful than ever.
