Over the past 6 months, the anti-phishing solution provider Agari has enjoyed 95% revenue growth, helped by uptake of its new Enterprise Protect™ platform – an innovative solution developed to tackle the problem of spear phishing.
The solution effectively blocks spear phishing, business email compromise and social engineering-based email attacks by analysing and verifying the senders of emails.
Email-based attacks have grown in popularity in recent years. It is no longer a case of if an attack will occur, but when and how often. The increase in email-based cyberattacks and the rising cost of mitigating those attacks has forced organizations to rethink their email security strategies.
While there are many email security solutions that can block phishing emails, spear phishing emails that impersonate trusted or known individuals are harder to block. This is where the Enterprise Protect™ platform comes into its own. The platform actively prevents these impersonation attacks by verifying the true sender of an email, rather than simply analyzing email content looking for common spam signatures.
The solution has proven popular with organizations that are looking to augment their existing spam and phishing defenses, evidenced by the increase in revenue.
Uptake of the company’s solutions has grown considerably in 2016 with the Agari Email Trust Platform at the heart of its cybersecurity solutions now analyzing more than 2.4 trillion messages each year. The firm’s cybersecurity solutions blocked more than 6.8 billion malicious emails last year and the firm is now protecting 64,000 customer domains.
Last year, Agari appointed a number of key staff members including a new CEO, CFO, Chief Scientist, and Vice presidents for Sales and Marketing. $24 million was raised in funding and the firm expanded into Australasia and the Asia-Pacific region, in addition to protecting the largest bank in Germany, Europe’s largest retailer and the world’s largest airline.
Agari is continuing to innovate, with the Customer Protect™ joined by Enterprise Protect™ last year, in addition to the introduction of Email Cloud Identity into its Email Trust Platform. Email Cloud Identity monitors and verifies the outbound emails sent by third party companies on behalf of enterprises.