This news comes on the heels of its Series C round. The funding will help the company explore new use cases. Here are the top-line bullets you need to know.
Material Security, an email security company, has raised $100M in a Series C. The round drew participation from Founders Fund and Andreessen Horowitz, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Material Security allows organizations to protect email accounts — even if those accounts have already been compromised.
- The company’s net revenue retention rate is over 150%.
- Its clients include Lyft, Mars, Databricks, Chubb, Compass, and DoorDash.
- Material Security is supported by a team of just under 40 employees.
Source: Material Security
WHY DOES THE MARKET MATTER?
- The global cloud-based email security market is expected to reach a value of $1.2B by 2026, growing at a CAGR of 8.68%, according to Mordor Intelligence.
- The increasing frequency and sophistication of spam, malware, and phishing attacks have compelled organizations to adopt solutions in this space.
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