
We all understand Phishing. Eyal has built a fast-growth company addressing this ubiquitous nuisance.
Sramana Mitra: Tell us about yourself and IRONSCALES.
Eyal Benishti: I’m the Founder and CEO of IRONSCALES. We mitigate the risk of email phishing that businesses face today. We offer simplicity and speed for accelerated visibility for all types of phishing attacks especially those that get past traditional security. We are the fastest-growing email security today. We know how to harness the power of the cloud.
>>>Sramana Mitra: Tell me a bit about your company. Is it venture-funded?
John Wu: We’re a customer-funded company. We view our customers as our partners in this. We have done several successful equity crowdfunding rounds in the last few years. We raised over $11 million in past rounds. A lot of it came from our customers who believe in what we’re doing. When you talk about how you’re getting the word out, that’s one of the ways.
Sramana Mitra: Which equity crowdfunding platform did you work on?
>>>Sramana Mitra: But you would still have to sell the full product – hardware and software – if a carrier wants to work with you.
John Wu: It depends on the carrier. Some carriers have their hardware vendors picked out. They want to use their hardware vendors. We can port the software onto this hardware. Other carriers don’t mind just getting any solution. We could offer them the full solution.
>>>Sramana Mitra: The primary pain point around which you’re positioning your solution is this parent trying to protect children.
John Wu: Correct. That’s a very salient pain point that a lot of parents are facing today. Less so in terms of people concerned about their refrigerators getting hacked. Once you have our product, we let you know what we’re doing on the network to help you protect against hackers who are trying to hack into these devices as well.
Sramana Mitra: Interesting. Where do you advertise or how do you find the customers that have this pain point?
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Gryphon is a very interesting company in the B-to-C Cyber Security space. This interview discusses their go-to-market strategy and equity crowdfunding strategy in significant detail.
Sramana Mitra: Let’s start by introducing our audience to yourself as well as to Gryphon.
>>>Sramana Mitra: In these kinds of conversations, I always ask for open problems that new entrepreneurs can solve. One of the problems that come to my mind is, I live a public life. The problem is all these fraudsters are able to access my entire LinkedIn following. I have all these LinkedIn followers who, to some degree, trust me.
I’m just using myself as a proxy. There are lots of people out there on other platforms. If the fraudsters use these brands and start phishing, that’s a very dangerous scenario. We are not doing anything to protect our followers because there’s no solution available. Even if I wanted to, I have no way of protecting my followers from this kind of phishing.
>>>Sramana Mitra: How do you resolve that dichotomy?
Bill Bruno: One, you or someone pretending to be you is logging in. Let’s use an example that just happened with one of our customers. They had a situation where there was a large scam attempt where several users were receiving messages that were pretending to be the bank.
>>>Bill Bruno: Another thing that’s picked up in the last few years because of the speed of digital transformation is fraudsters trying to take advantage of that. We have a customer that’s using both systems – our marketing system and our fraud system. In many ways, you can look at it as a hand-off. On the marketing side, we’re helping eliminate friction.
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