Anti-phishing software Pixm has raised $4.3m in its oversubscribed seed funding round.
Gula Tech Adventures served as the lead investor, with commitments also coming from FirstIn, AIM13 – Crumpton Ventures Partnership, Chaac Ventures and Precursor Ventures.
With the capital, Pixm plans to further the development of its computer vision technology.
Phishing remains one of the most common cyberattacks. While clicking bad links in emails are often considered the primary cause for breaches, Pixm’s 2021 Strategic Security Survey found that over 50% of phishing breaches occur through social media.
To combat this risk, Pixm utilises advanced computer vision technology to identify and stop targets spear phishing attacks. Clients can easily deploy the technology to an unlimited number of devices within minutes. It is also able to protect devices through apps, including Facebook, WhatsApp and LinkedIn.
The technology operates in the browser and protects the user when they click a link.
Pixm recently launched its enterprise product and is rapidly gaining adoption within the enterprise market. As part of its growth efforts, it hired Matt Mosley, as its chief product officer and Chris Wilburn, VP of business development and strategic alliances.
Mosley said, “Pixm is the last line of defense against phishing and business email compromise. Attackers continue to evolve their approaches using new vectors, techniques and social engineering. Existing solutions have been unable to respond and training can only go so far.
“Pixm has proven its ability to stop new targeted phishing attacks in the real world, and it is our goal to protect every user from these threats so that we are all able to securely and confidently utilize online communications. All roads lead to the browser, and Pixm is the only solution today that can effectively stop phishing regardless of attack vector.”
Several CyberTech companies have raised funding this year. Earlier this week, Portnox bagged $22m for its Series A round. The company is an endpoint security solution that helps users quickly protect their networks.
Copyright © 2022 FinTech Global