PhishMe Closes $13 Million Investment with Paladin Capital Group and Aldrich Capital Partners
New Funding to Accelerate Market Expansion, Drive Technology Roadmap to Close the People Gap in Security
Mar 26, 2015, 09:00 ET
LEESBURG, Va., March 26, 2015 /PRNewswire/ -- PhishMe® Inc., the leading provider of phishing threat management solutions that empower employees to be a layer of human security sensors against phishing, malware, and drive-by attacks, today announced it has raised $13 million in Series B funding led by existing investor Paladin Capital Group and new investor Aldrich Capital Partners. This round brings PhishMe's total funding amount to more than $15 million. As part of the agreement, Raheel (Raz) Zia, Partner at Aldrich Capital, will join PhishMe's board of directors as an observer.
During 2014, PhishMe continued its aggressive growth trajectory achieving the following key milestones:
- Revenue grew by 100% in 2014, with the 4th quarter being the largest in company history
- Headcount doubled and surpassed 100 employees with the addition of strong sales veterans from leading security vendors such as Secureworks and Websense
- Moved into a new headquarters office in Northern Virginia
- Opened offices in London and Dubai to locally serve customers in the European and Middle Eastern markets.
PhishMe now counts more than 450 enterprises, including one-third of the Fortune 100, as active customers spanning all major vertical markets. The new funds will be used to support continued aggressive company growth – staying on the leading edge of innovation, expansion of the intellectual property and product portfolios, and market leadership in delivering anti-phishing solutions both domestically and internationally.
"PhishMe is excited to build on our existing relationship with Paladin Capital Group and to welcome our new investor, Aldrich Capital Partners. Raz Zia brings a wealth of knowledge to the team having helped scale numerous high-growth technology companies during the course of his career at Aldrich Capital and Goldman, Sachs & Co." said Rohyt Belani, CEO and Co-Founder, PhishMe. "We continue to execute on our strategy and vision following a remarkable 2014, as the market seeks new approaches to limit the impact of cyber attacks on their employees and incident response teams."
"PhishMe's continued growth and innovation provides an exciting opportunity for Paladin to lead this Series B funding round," said Christopher Steed, Principal at Paladin Capital Group. "Sophisticated spear-phishing attacks continue to be the dominant attack vector and are a priority of CISOs when it comes to combatting cyber threats. We believe PhishMe is well positioned to continue scaling its solutions to positively impact the human element of cybersecurity."
"We are looking forward to work closely with Rohyt and the management team at PhishMe as they continue to disrupt the security industry with innovative offerings and expand their international footprint," said Raz Zia, Partner and Co-Founder at Aldrich Capital Partners.
About Paladin Capital Group
Paladin Capital Group is a leading multi-stage private equity firm comprised of individuals with a proven track record of financial expertise and national security experience. Paladin is an experienced investor in cyber security technologies and solutions worldwide having completed 38 cyber investments over the last decade. Paladin provides capital and strategic guidance to growing companies in the IT and telecommunications sectors. The firm focuses on companies with products and services that are "dual use" in nature, serving both commercial and government customers.
Paladin has over $950 million dollars of committed capital across multiple funds and has invested in over 60 portfolio companies. For more information, visit www.paladincapgroup.com.
About Aldrich Capital Partners
Based in Bethesda, MD, Aldrich Capital Partners was formed by experienced investors and operators who are successful entrepreneurs in their own right. The firm was started with the philosophy of "being the entrepreneurs behind the entrepreneur," helping private, entrepreneur-run companies attain their growth objectives by tapping into the resources, knowledgebase and network of relationships of the ACP organization, a team that has been responsible for over $1B+ in technology investments over the past decade, resulting in multiple $1B+ outcomes. www.aldrichcap.com
About PhishMe
PhishMe® is the leading provider of threat management for organizations concerned about human susceptibility to advanced targeted attacks. PhishMe's intelligence-driven platform turns employees into an active line of defense by enabling them to identify, report, and mitigate spear phishing, malware, and drive-by threats. Our open approach ensures that PhishMe integrates easily into the security technology stack, demonstrating measurable results to help inform an organization's security decision making process. PhishMe's customers include the defense industrial base, energy, financial services, healthcare, and manufacturing industries, as well as other Global 1000 entities that understand changing user security behavior will improve security, aid incident response, and reduce the risk of compromise. For additional information, please visit: www.phishme.com.
SOURCE PhishMe Inc.