Area 1 Security raises $25 million in growth funding

Company provides AI-driven protection against phishing

Area 1 Security announced on Sunday that it has secured $25 in growth funding led by new investor, GrowthPoint Capital.

The firm uses AI to find and eliminate phishing emails before they reach anyone’s inbox. This preemptive approach works with Google Suite and Microsoft 365 to add an extra layer of protection for cloud-based emails. 

According to Venturebeat, an Area 1 Security spokesperson said that the company will use the money largely for research and development as well as expanding its go-to-market resources. 

Advertisement - Article continues below

According to Verizon’s 2019 Data Breach Investigation Report, 95% of all data breaches get their foothold through phishing emails. Area 1 Security’s approach aims to filter out phishing emails before they reach the user so companies don’t have to rely on their employees’ ability to identify phishing emails before it's too late.

Area 1 Security claims to have saved $233 million in “long con” BEC fraud in just a 12-week period earlier this year. 

Phishing attacks have been on the rise in 2020 as criminals take advantage of coronavirus chaos to phish unsuspecting people. Earlier this month 15,000 Wells Fargo customers got phished as well. 

The company also announced Patrick Sweeney as CEO. Sweeney has more than 25 years of executive and general management experience in high-tech, including successful runs with Dell and SonicWall. He was most recently the CEO of Talari Networks which Oracle purchased in 2019.

Featured Resources

Preparing for long-term remote working after COVID-19

Learn how to safely and securely enable your remote workforce

Download now

Cloud vs on-premise storage: What’s right for you?

Key considerations driving document storage decisions for businesses

Download now

Staying ahead of the game in the world of data

Create successful marketing campaigns by understanding your customers better

Download now

Transforming productivity

Solutions that facilitate work at full speed

Download now


cyber security

Australia announces $1.35 billion investment in cyber security

30 Jun 2020
cyber security

Governments urged to work together to stop health care cyber attacks

26 May 2020

Hackers target Three customers with "sophisticated" phishing scam

26 Mar 2020

Most Popular

Business operations

Nvidia overtakes Intel as most valuable US chipmaker

9 Jul 2020

How to find RAM speed, size and type

24 Jun 2020

Is it time to put Intel Outside?

10 Jul 2020