IRONSCALES Valuation, Funding & Investors
IRONSCALES is valued at $340M as of November 2024.
Last IRONSCALES valuation
$340M
Secondary · Nov 2024
Last IRONSCALES funding round
$64M
Undisclosed stage · Dec 2021
Cumulative funding IRONSCALES raised
$95M
across 5 funding rounds
Key investors in IRONSCALES
K1 Investment Management
Jump Capital
PSG Equity
Elron Ventures
Rafael Development Corporation
RDseed
About IRONSCALES
IRONSCALES is an Atlanta-headquartered cloud email security platform combining artificial intelligence and human intelligence to neutralize phishing attacks, business email compromise, account takeovers, and VIP impersonations. The platform supports enterprise-wide threat detection and remediation for global organizations.
Founded
2014
HQ
Atlanta, GAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$340M (Nov 2024)
IRONSCALES Valuation
IRONSCALES is currently valued at $340M, based on its secondary sale in November 2024.
The $26M round was led by PSG Equity.
IRONSCALES valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2024 | Secondary | $340M |
IRONSCALES Funding History
IRONSCALES has raised a total of $95M across 5 funding rounds, plus 1 secondary share sale.
IRONSCALES's first fundraising round was a $2M seed round in January 2016. The most recent completed round was a $64M undisclosed-stage round in December 2021.
IRONSCALES funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2024 | Secondary | PSG Equity (lead) | $26M | $340M | IronScales provides AI-powered email security solutions, specializing in detecting and preventing phishing attacks. On November 20, 2024, PSG Equity, an existing shareholder, acquired Elron Ventures' 7.6% stake in IronScales for approximately $26 million at a company valuation of $340 million. This secondary transaction reflects a 23x return on Elron's original investment from 2016, made alongside Rafael Development Corporation. The deal marks PSG Equity increasing its holding in the cybersecurity firm. Elron expects to recognize $7.5 million net income from the sale. Previously, Elron realized partial exits in 2020 and 2021, yielding $12.3 million, bringing cumulative proceeds from IronScales to about $38 million. IronScales has raised a total of around $126 million in funding historically. The company operates as a PE-backed entity with PSG as a key investor since at least 2021. |
| Dec 2021 | Undisclosed stage | PSG Equity (lead); Jump Capital; K1 Investment Management | $64M | - | IRONSCALES is a leading provider of AI-powered email security solutions that detect and prevent phishing attacks using automated machine learning technology. Founded in 2014, the company serves over 5,000 organizations globally across all industries and has developed a self-learning platform designed to continuously evolve against emerging threats. In December 2021, IRONSCALES raised $64 million in a Series C funding round led by PSG (a growth equity firm), with participation from existing investors K1 Investment Management and Jump Capital. The company planned to use the new funding to expand its international footprint and continue developing platform capabilities in response to the growing sophistication of phishing attempts. The email security market was expected to grow to approximately $9.4 billion by 2027, positioning IRONSCALES within a high-growth category. A subsequent secondary transaction in November 2024 valued IRONSCALES at approximately $340 million when PSG Equity acquired additional shares from Elron Ventures, a venture capital firm that had achieved a 23-fold return on its initial 2016 investment. |
| Aug 2020 | Series B | Jump Capital (lead) | $8M | - | IRONSCALES, a Tel Aviv and Atlanta-based email security company founded in 2014, closed an $8 million Series B extension led by Jump Capital in August 2020. The company's self-learning, AI-driven platform combines machine learning with human intelligence to detect, prevent, and remediate email phishing attacks and business email compromise (BEC) attacks. The extension added to $15 million previously raised in the initial Series B from K1 Investment Management. IRONSCALES planned to deploy the capital toward market expansion, research and development of its email security platform, and scaling its North American sales and marketing operations. Jump Capital partner Saurabh Sharma joined the company's board, and IRONSCALES appointed Matthew McNulty as SVP of Worldwide Sales. In 2020, the company achieved 72% ARR growth driven by market expansion and product enhancements, including upgrades to its Themis AI-driven security analyst tool and the launch of its Phishing Emulator and natural language processing capabilities for detecting BEC attacks. |
| Jun 2019 | Series B | K1 Investment Management (lead) | $15M | - | IRONSCALES is an Israel-based cybersecurity company founded in 2013 that develops a cloud-based platform using AI to detect and respond to sophisticated email phishing attacks, including malicious URL detection, along with employee training via IronSchool. The company secured $15 million in a Series B funding round in June 2019 led by existing investor K1 Investment Management. Prior funding included a $1.5 million seed round in 2016 led by RDSeed and a $6.5 million Series A in December 2017 led by K1, bringing total funding to $25 million at that point. |
| Dec 2017 | Series A | K1 Investment Management (lead); Rafael Development Corporation | $7M | - | IRONSCALES is an email phishing prevention platform that automates prevention, detection, and response to hazardous emails, serving industries including finance, healthcare, and utilities. The company closed a $6.5 million Series A funding round on December 6, 2017, led by K1 Investment Management with participation from existing investor RDC (Rafael Development Corporation). This brought total funding to $8 million following a $1.5 million round in 2016. Funds were allocated to accelerate the channel partner program, expand the global sales team, boost R&D in machine learning threat detection, incident response, and intelligence sharing, and open a North American headquarters in Atlanta in Q1 2018 with 10-15 new hires. |
| Jan 2016 | Seed | RDseed (lead); Elron Ventures | $2M | - | - |
Who has invested in IRONSCALES?
6 investors have backed IRONSCALES across its funding rounds, including K1 Investment Management, Jump Capital, PSG Equity, Elron Ventures, Rafael Development Corporation and RDseed.
Lead investors include PSG Equity, Jump Capital, K1 Investment Management and RDseed.
IRONSCALES Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Los Angeles, CA | 3 | Lead | Dec 2017 | |
| Chicago, IL | 2 | Lead | Aug 2020 | |
| Boston, MA | 2 | Lead | Dec 2021 | |
 Tel Aviv | 1 | Participant | Jan 2016 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialIRONSCALES Competitors
IRONSCALES competitors include listed companies like Datasection and Ropeok Technology Group, and private ones like Dtex Systems, Noma Security, Trunk Tools and Aquant.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Jose, CA | Private | - | - | $400M | - | |
| Herzliya | Private | - | - | $400M | - | |
| New York City, NY | Private | - | - | $341M | - | |
 Japan | Publicly listed | $216M | $27M | $346M | 1.6x | |
| Boston, MA | Private | - | - | $350M | - | |
 China | Publicly listed | $23M | ($28M) | $396M | - |
IRONSCALES Public Comps
IRONSCALES is still privately-owned, but its public comps include Datasection, WebRAY Tech Group, Hennge, Axgate, ZipRecruiter, Cerence, Telos, Vrain Solution, DSC Holdings and Arqit Quantum.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $216M | $27M | 1.6x | 1.6x | 12.7x | 13.0x | |||
| $46M | ($5M) | 7.0x | - | (60.2x) | - | |||
| $70M | $12M | 4.3x | 4.2x | 24.3x | - | |||
| $35M | $4M | 10.1x | 11.3x | 95.3x | - | |||
| $449M | ($7M) | 0.9x | 0.9x | (62.1x) | 7.3x | |||
| $252M | $8M | 1.7x | 1.4x | 52.9x | 6.2x | |||
| $165M | ($25M) | 1.6x | 1.5x | (10.6x) | 11.1x | |||
| $21M | $6M | 14.5x | 11.5x | 49.0x | - | |||
This data is available for Pro users. Sign up to see all IRONSCALES competitors and their valuation data. Start Free Trial | ||||||||
Common questions about IRONSCALES
| When was IRONSCALES founded? | IRONSCALES was founded in 2014. |
| Where is IRONSCALES headquartered? | IRONSCALES is headquartered in Atlanta, GA, United States. |
| Is IRONSCALES publicly listed? | No, IRONSCALES is a private, VC-backed company. |
| What is IRONSCALES's valuation? | IRONSCALES was last valued at $340M in its secondary sale in November 2024. |
| How much funding has IRONSCALES raised? | IRONSCALES has raised $95M across 5 funding rounds. |
| What was IRONSCALES's last funding round? | IRONSCALES's last funding round was a $64M undisclosed-stage round in December 2021, led by PSG Equity. |
| Who are IRONSCALES's investors? | IRONSCALES's investors include K1 Investment Management, Jump Capital, PSG Equity, Elron Ventures, Rafael Development Corporation and RDseed. |
| Which companies are comparable to IRONSCALES? | Companies comparable to IRONSCALES include Dtex Systems, Noma Security, Trunk Tools, Datasection, Aquant and Ropeok Technology Group. |
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