Email protection company Material Security this week announced that it raised $40 million in Series B funding, which brings the capital raised by the firm to date to $62 million.
Founded in 2017, the Redwood City, California-based company is focused on protecting email accounts both before and after compromise.
Material Security launched its full product portfolio in 2020 and claims to have seen tremendous growth over the past year, nearly quadrupling its customer base.
The company’s suite of products offers anti-phishing capabilities, visibility and control into email security risks, and can prevent account takeover attempts and data leaks.
The new infusion of cash, the company says, will help it expand business operations to more markets, while also allowing it to aggressively invest in research and development.
Material Security’s Series B funding round was led by Silicon Valley entrepreneur and investor Elad Gil, and saw participation from Andreessen Horowitz and individual tech industry leaders and investors.
“As hackers continue to intensify their efforts, organizations must look beyond perimeter-only security – aka the beloved firewall – and extend zero trust security to every mailbox, protecting email before, during, and after everything from minor incidents to major breaches,” said Ryan Noon, CEO and cofounder of Material Security.