US-based email authentication platform ValiMail has raised $12m in series A capital from a consortium featuring Bloomberg Beta, the early-stage investment arm of media company Bloomberg.
Shasta Ventures led the round, while fellow venture capital firm Flybridge Capital Partners also took part.
Founded in March 2015, ValiMail has developed a cloud-based authentication service verifying that emails which appear to have been sent from a company are genuine. Enterprises are also provided with an overview of all email activity to identify any malicious actions.
The cash will help ValiMail meet demand for its platform as it has attracted corporate clients such as entertainment conglomerate Time Warner, ride sharing app developer Uber and review platform Yelp. The company processes several billion emails per month.
Bloomberg Beta previously supported ValiMail’s $1.5m seed round alongside Flybridge Capital Partners. The round was disclosed when ValiMail emerged from stealth in May 2016.
Alexander García-Tobar, chief executive of ValiMail, said: “Our mission is to authenticate the world’s communications, starting with email.
“As cloud services multiply, enterprises realise they need visibility, control, compliance and security to address the corresponding proliferation of cloud email services. ValiMail is able to auto-identify and block 100% of unauthorised email and criminal impersonation attempts with unprecedented accuracy.”