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In the ongoing fight against cyber threats, Bolster—a company specializing in artificial intelligence-based security—has acquired substantial funding to the tune of $14 million. The company is recognized for its phishing detection tool, CheckPhish, which is a free service for identifying potentially dangerous websites. Bolster will utilize this new capital to broaden its offerings which include services that cater to businesses and brands concerning brand and URL authenticity.
The funding round, which introduces Microsoft’s venture fund M12 as a new investor, also saw contributions from other notable firms including Thomvest Ventures, Crosslink Capital, Liberty Global Ventures, Cheyenne Ventures, Cervin Ventures, and Transform Capital. Although the current valuation of Bolster remains undisclosed, the fresh investment brings its total funding to approximately $40 million.
Bolster focuses on providing verification services for brands and companies that engage heavily in customer communications via email, helping to mitigate the risk of phishing attacks that could impersonate the brand for nefarious purposes. Clients such as Dropbox, Uber, LinkedIn, and Coinbase benefit from Bolster’s services, as phishing scams often initiate a majority of cybersecurity incidents like data breaches and malware infections.
Setting up fraudulent websites resembling legitimate businesses has become increasingly easy and cost-effective for cybercriminals. According to Shashi Prakash, Bolster’s CTO and co-founder, attackers can quickly launch sophisticated and targeted phishing campaigns with minimal investment.
Bolster combats this threat using advanced machine learning algorithms to continuously monitor the internet—spanning URLs, domain registry data, public and private online discussions, and emails—to detect and disrupt scam operations. This proactive tactic aims to prevent phishing attempts at their source through automated takedown processes.
The effectiveness of Bolster’s strategy lies in its complementary role alongside conventional email security solutions. It acts as an additional safeguard to intercept phishing links that may slip through email filters, ensuring that any potential victim clicking on a malicious link will not reach the intended harmful destination.
Microsoft’s investment underscores the significance of Bolster’s capabilities, as Microsoft itself is a global brand that frequently interacts with users via email, making it a prevalent target for phishing. As Microsoft continually integrates AI into its operations, threat protection becomes a crucial need, and Bolster’s technology could play a vital role in Microsoft’s security framework going forward.
Todd Graham, Managing Partner at M12, highlighted the importance of Bolster’s ability to shut down the origin of these phishing attacks, an asset critical in countering the scale of modern cyber criminal enterprises. Moreover, Bolster’s tool not only aids businesses but indirectly shields consumers by helping companies prevent fraudulent communications from reaching their clientele.
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Frequently Asked Questions (FAQs)
What is Bolster?
Bolster is an AI startup that focuses on cybersecurity, providing services that include the detection of phishing websites and the protection of brand authenticity.
How much funding has Bolster raised in the latest round?
Bolster has raised $14 million in the latest round led by Microsoft’s M12, with total funding reaching around $40 million.
What is CheckPhish?
CheckPhish is Bolster’s free phish-checking portal that helps identify malicious websites that may be part of phishing campaigns.
Which companies are investing in Bolster?
Investors in Bolster include Microsoft’s M12, Thomvest Ventures, Crosslink Capital, Liberty Global Ventures, Cheyenne Ventures, Cervin Ventures, and Transform Capital.
Who can benefit from Bolster’s services?
While Bolster primarily serves businesses and brands that are susceptible to phishing attacks due to high-volume email communications with customers, the broader impact of their services extends to consumer protection as well.
Does Microsoft work directly with Bolster?
Although not yet, the investment from Microsoft’s venture fund M12 is seen as a precursor to potential future collaboration with Bolster.
Conclusion
Bolster’s recent successful raise of $14 million signifies the mounting concern over phishing threats and the growing importance of AI in cybersecurity. With robust machine learning capabilities and a powerful phishing detection portal, Bolster is poised to play a critical role in protecting both businesses and consumers from the ever-evolving landscape of online threats. Microsoft’s M12 leading the investment round points toward a strong vote of confidence in Bolster’s approach and potential for integration with broader security systems.
