Material Security secured $40M in Series B funding led by Elad Gil, the angel investor behind Airbnb, Stripe and Stripe. Material Security was founded in 2017 in response to the infamous 2016 election email breaches. The company launched its full product suite in 2020 and has since experienced a 472% growth in revenue and nearly quadrupled its customer base. The new funding will allow Material Security to expand business operations to additional geographies, as well as aggressively expand R&D. The product suite delivers admin visibility and control, account takeover prevention, anti-phishing and data leak prevention services.
Source: https://www.helpnetsecurity.com/2021/05/29/material-security-funding/