Cybersecurity / Funding / Marketing / Startups / Venture capital

Email protection startup Inky Technology closed a $6M Series A funding round

The College Park, Maryland-based company said the fresh funding will go toward market expansion and hiring new employees in sales and customer service.

Loops seeks a better solution to email issues that its founder said the publicly traded email giants haven't solved. (Photo by Pixabay user rawpixel, used under a Creative Commons license)

College Park, Maryland-based Inky Technology has closed on a $6 million Series A funding round. This is the company’s second Series A raise, following its June 2018 raise worth $5.6 million.

Dave Baggett, CEO at Inky, said in a press release that the fresh funding will go toward market expansion.

Launched a few years ago, Inky makes cloud-based email protection software. This latest funding round was led by ClearSky Security with participation from Gula Tech Adventures.

“In the 18 months since our foundational investment in INKY, the company has racked up numerous key commercial wins and has improved the intelligence of the core INKY Phish Fence product well beyond what incumbent vendors are capable of,” Peter Kuper, managing director of Clear Sky Security, said in a statement. “We’re thrilled to support Inky at this exciting inflection point for the company.”

Inky has a team of 19 employees working out of its College Park office. In October 2018, the company released its flagship anti-phishing product, INKY Phish Fence, which detects phishing attacks using computer vision, artificial intelligence and machine learning. The software is designed to protect enterprises from widespread phishing, spear phishing and extortion attacks.

As a result of the funding transaction, Gula Tech Adventures founder Ron Gula will join Inky’s board of advisors.

“As an early investor in INKY and team, I’ve seen the real benefits of the company’s computer vision technology in preventing and catching phishing attacks before they are able to execute ahead of legacy anti-phishing technologies on the market today,” Gula said.

This is Gula’s second investment this week, following his firm’s investment in Cybrary. He also serves on Cybrary’s board of advisors.

Inky currently has five open positions listed on its website, one of those being a director of partners. A media rep from the company shared with that Inky specifically has plans to expand its sales and customer service team following this funding raise.

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