UK-based email security and brand protection solutions provider Red Sift on Thursday announced raising $54 million in a Series B funding round that brings the total raised by the company to nearly $70 million.
The latest funding round was led by Highland Europe, with participation from new and existing investors, including Sands Capital, MMC Ventures, and Oxford Capital Partners.
Red Sift has developed solutions designed to help organizations protect their email accounts against threats. Its platform is integrated with the Microsoft Office 365 and Google Workspace productivity suites.
The company has also introduced a new service that continuously monitors newly registered domains and subdomains to identify impersonation attempts, enabling customers to easily take down fraudulent domains.
The new investment will be used to improve the company’s platform, hire more people, and expand globally — there are plans to open a new U.S. headquarters in Austin, Texas.
In the past year, Red Sift claims, its annual recurring revenue has more than doubled and its customer base grew to more than 700 major brands.