Valimail, a US-based provider of email authentication software, received $25m in series B funding on Tuesday from investors including Bloomberg Beta, media group Bloomberg’s data-focused venture fund.
Tenaya Capital led the round, which also featured fellow venture capital firms Shasta Ventures and Flybridge Capital Partners, and which increased the company’s funding to $38.5m altogether.
Founded in 2015, Valimail has developed an automated email authentication system used by corporate clients to verify billions of emails each month.
The software utilises existing protocols such as DMARC (domain-based message authentication, reporting and conformance), and blocks unauthorised emails fraudulently using a company’s online domain.
The series B funding will go to hiring, as Valimail looks to expand its engineering, sales, marketing and customer success teams.
Bloomberg Beta and Flybridge co-led the company’s $1.5m seed round, disclosed when it emerged from stealth in May 2016, and returned for its $12m series A, which was led by Shasta Ventures six months later.
Alexander García-Tobar, Valimail’s co-founder and CEO, said: “Valimail was founded to bring trust to the world’s communications, starting with email. In a world of first-generation solutions with failure rates over 70%, we believed total automation was a necessary approach.
“The past three years have proven our thesis that the market both needs and values automated authentication. Now we’re prepared to make our platform available worldwide.”