Pixm raises $4.3 million to protect enterprises from phishing attacks

Pixm announced that it has raised $4.3M in an oversubscribed seed funding round to protect enterprises from undiscovered, non-traditional phishing attacks.

The round was led by Gula Tech Adventures, with participation from FirstIn, AIM13 – Crumpton Ventures Partnership, Chaac Ventures, and Precursor Ventures.

Phishing remains the most common cause of data breaches, according to a 2021 Strategic Security Survey, and over 50% of phishing breaches occur via social media, completely outside the corporate inbox, according to Pixm’s most recent breach data. Pixm uses advanced computer vision technology to identify and stop targeted spear phishing attacks.

Computer vision is a field of AI software that can ‘see’ and is powered by convolutional networks, machine learning models trained on millions of labeled images. Pixm delivers a frictionless browser solution that security professionals can deploy to an unlimited number of devices in minutes. It operates in the browser at the moment a link is clicked or at “point-of-click,” protecting users regardless of the channel the link is delivered.

Because Pixm is the last line of defense, it sees and stops zero-day phishing attacks that target non-traditional vectors and applications such as Facebook, LinkedIn, WhatsApp, and other business collaboration and communication tools as well as traditional email phishing attacks. A recent Gallup Poll suggests 45% of full time American employees worked remote part time or full time at the end of 2021. Pixm’s solution uniquely supports the future work environment across multiple devices, applications and accounts.

“The future cyber attack landscape is here. Phishing attacks are targeting organizations via new vectors like Facebook, LinkedIn, Slack, Signal, Apple Messenger and SMS. They are targeting users at home, on personal devices and on mobile devices,” said Ron Gula, President and Co-Founder, Gula Tech Adventures. “Pixm will deliver the first point of click solution that stops new attacks regardless of attack vector using state of the art computer vision.”

“Pixm sees the phishing attacks that have completely thwarted corporate protection,” said Chris Cleveland, Founder and CEO, Pixm. “Many of these phishing attempts target a broad range of critical infrastructure sectors including power grids, aerospace, pharmaceutical, and more. Some attacks are able to penetrate advanced corporate email protection, including cloud and endpoint security, while many others flow entirely around it via vectors like Facebook, LinkedIn, and even Coinbase. We are excited to partner with investors like Gula Tech Adventures who have helped build today’s cyber industry. This raise will enable us to further deliver our computer vision solution to the enterprise market and fulfill our vision of redefining phishing security on the endpoint.”

“Pixm’s proactive solution to counter phishing makes it a leader in the next generation of cybersecurity,” said Renny McPherson, Managing Partner, FirstIn. “FirstIn is excited to be part of Pixm’s future and to continue supporting the company as it grows.”

The investment comes as Pixm has just launched its enterprise product and is rapidly gaining adoption within the enterprise market. Pixm has also recently hired key industry experts with years of experience in product management, marketing, sales and strategic alliances. Those new hires are led by Matt Mosley, Chief Product Officer, and Chris Wilburn, VP of Business Development and Strategic Alliances.

Matt Mosley joins Pixm from Cyren, where he led global Product Management for the world’s largest security cloud. Mr. Mosley brings more than 30 years of experience in senior management roles at public and private companies, most recently including executive roles at Devo and Symantec. He is a recognized speaker and writer on information security topics and holds multiple designations including CISSP, CISM, and CISA.

“Pixm is the last line of defense against phishing and business email compromise,” said Mosley. “Attackers continue to evolve their approaches using new vectors, techniques and social engineering. Existing solutions have been unable to respond and training can only go so far. Pixm has proven its ability to stop new targeted phishing attacks in the real world, and it is our goal to protect every user from these threats so that we are all able to securely and confidently utilize online communications. All roads lead to the browser, and Pixm is the only solution today that can effectively stop phishing regardless of attack vector.”

Wilburn brings to Pixm more than 20 years of experience in business development and channel executive roles at NortonLifeLock, Symantec and RSA and others. As VP of Business Development and Strategic Alliances, Wilburn will oversee Strategic Business and Technology Partnerships, Managed Service Providers, Channels and Distribution. With his strong understanding of building strategic partnerships and aligning company objectives to drive go-to-market strategies through partners, Wilburn will influence innovation and bolster market expansion efforts.

“I am thrilled to be joining Pixm as it enters the next stage of expansion and growth,” noted Wilburn. “The company is addressing an exciting, innovating and evolving market. Employers continue to struggle with next generation phishing attacks and employees are losing confidence in trusted communications. These phishing attempts are also impacting the relationships between consumers and their trusted brands they interact with. I look forward to working with Chris and Matt to expand Pixm through all channels.”