A company called Beef up, which has developed a unique approach to combatting malicious phishing emails, has secured $14 million in funding. The company’s primary focus is on providing services to brands and businesses to verify their branding and URLs in order to prevent cybercriminals from impersonating them. Microsoft venture fund M12 led the funding round, with participation from other investors like Thomvest Ventures, Crosslink Capital, Liberty Global Ventures, and more. Bolster, the startup behind Beef up, has already raised around $40 million in total.
Phishing, defined as the starting point for over 90% of cyber attacks, is a major threat to companies that send emails to their customers. With tools becoming more affordable and advanced, cybercriminals can easily set up fake domain pages to execute phishing attacks. Bolster uses machine learning and AI algorithms to detect and eliminate these scams by continuously monitoring the internet for suspicious links and taking automatic action to remove them.
The company’s approach is unique in that it complements existing email security products by actively shutting down the root of phishing operations. Microsoft, a major investor in Bolster, sees the value in this approach, given the scale at which cybercriminal enterprises operate. Bolster’s ability to automatically shut down these attacks at the source is seen as a crucial advantage in the fight against phishing.
With Microsoft’s interest in adopting more AI technology across its business, Bolster’s services align with the need for enhanced threat protection. While Bolster primarily serves businesses, its collaboration with major brands also indirectly benefits consumers by protecting them from malicious phishing emails. The ultimate goal is to safeguard the customers of these businesses from falling victim to phishing scams. Todd Graham, managing partner at M12, emphasized the importance of detecting and stopping spoofed emails to protect users from falling for phishing attacks.
In conclusion, Beef up’s innovative approach to phishing detection and prevention has garnered significant interest from investors like Microsoft. By leveraging machine learning and AI technologies, Bolster is able to provide crucial services to brands and businesses looking to protect their customers from falling prey to phishing scams. With cyber attacks on the rise, the need for advanced threat protection solutions like those offered by Bolster is more important than ever in safeguarding online security for businesses and consumers alike.
Article Source
https://techcrunch.com/2024/05/22/bolster-creator-of-the-checkphish-phishing-tracker-raises-14m-led-by-microsofts-m12/
