US-based email authentication technology provider Valimail secured $45m yesterday in a series C round that included Bloomberg Beta, the corporate venturing arm of media group Bloomberg.
Investment firm Insight Partners led the round, participating together with venture capital firms Tenaya Capital, Shasta Ventures and Flybridge Capital Partners.
Valimail has built email authentication software that enables organisations to automatically verify emails and protect accounts from phishing attempts.
The technology authenticates billions of messages every month for companies such as ride hailing service Uber, mortgage lender Fannie Mae and co-working space operator WeWork as well as the US Agency for International Development.
The company has recently formed strategic partnership agreements with software provider Microsoft and cybersecurity technology supplier Symantec that involved it working with them on joint products.
The series C proceeds will finance global expansion and the launch of additional partnerships as Valimail looks to bolster its product offering. Tenaya led a $25m series B round for the company in May 2018, investing alongside Bloomberg Beta, Shasta Ventures, Flybridge Capital Partners.
Valimail emerged from stealth in May 2016 with a $1.5m seed round that was co-led by Bloomberg Beta and Flybridge. They both returned for a $12m series A that was led by Shasta Ventures in November the same year.