May 23, 2024 at 09:09AM
Bolster, a multi-channel phishing protection provider, has secured $14 million in a Series B funding round led by Microsoft’s M12, with additional funding from several other ventures. The Santa Clara-based company founded in 2019 uses AI and ML to prevent phishing and impersonation attacks. The funding will accelerate go-to-market initiatives and focus on executive monitoring and threat-hunting automation.
Key takeaways from the meeting notes are as follows:
1. Bolster, a multi-channel phishing protection provider, has secured $14 million in a Series B funding round, bringing their total raised funds to over $40 million.
2. The funding was led by Microsoft’s venture fund M12, with additional contributions from several other venture capital firms.
3. Bolster, founded in 2019, is based in Santa Clara, California, and focuses on preventing phishing and impersonation attacks across various platforms and applications.
4. The company uses AI and ML to detect phishing and scam attempts across different channels and currently serves over 120 customers, including well-known brands.
5. The new funding will be used to accelerate the company’s go-to-market initiatives, focusing on executive monitoring, BEC detection and prevention, and threat-hunting automation, along with investment in training and marketing efforts in these key areas.
6. Bolster’s co-founder and CTO, Shashi Prakash, emphasized the company’s commitment to leveraging generative AI for real-time detection and response to phishing and impersonation attacks, acknowledging that this issue affects almost all businesses.