Each year, Deloitte compiles its Technology Fast 500™ list – a list of the 500 fastest growing technology firms in the United States. This year, the cybersecurity firm PhishLabs has been included at position #301 after registering 3-year growth of 252% between 2012 and 2015. The sustained growth sees the anti-phishing platform vendor ranked alongside the fastest growing tech firms in the country.
To be included in the Technology Fast 500™ list, companies must own intellectual property and/or technology and sell products to customers, with sales contributing the majority of operating revenues. Deloitte sets the baseline for inclusion at base-level operating revenues of at least $50,000 with firms requiring current-year operating revenues of a minimum of $5 million. Companies must be headquartered in the United States and have been in business for a minimum of four years.
The anti-phishing solution provided by PhishLabs is in high demand. Phishing is the biggest cybersecurity threat that must be mitigated by organizations. Cybercriminals are increasingly targeting employees and attempting to get them to reveal sensitive company information and login credentials. Phishing is also used in the majority of malware and ransomware attacks.
Highly sophisticated tactics such as social engineering are now employed to fool employees into disclosing their login credentials and installing malware. Companies that fail to take action to prevent successful phishing attacks can be forced to spend millions of dollars resolving data breaches. Most of the major data breaches reported in the past two years have their roots in phishing attacks, including the cyberattacks on Anthem Inc., and the Democratic National Committee.
PhishLabs has developed a range of products to help organizations deal with the phishing threat, including an employee training program that conditions people to recognize phishing emails, a phishing simulation platform to assess the effectiveness of training and a phishing intelligence service that provides invaluable information about current phishing attacks. The company now mitigates more than 9,000 phishing attacks each month, shutting down phishing websites and disrupting cybercriminals’ infrastructures to block attacks.