Ayala Corp.’s Active Fund, a venture capital fund in the Philippines, has joined a team of investors to secure $26 million in Series B venture capital funding for spear-phishing and human hacking defense SlashNext, bringing its total funding to $43 million.
The investment is earmarked for the acceleration of cybersecurity efforts specifically protecting internet users from all forms of phishing, which happens to be the top and multi-billion-dollar threat to organizations and consumers. Slashnext is a SaaS-based spear-phishing and human hacking defense provider that works across digital channels and apps.
The Active Fund of the Ayala group is advised by Kickstart Ventures, G3 Enterprises, Telia Group, and participation from early investors Norwest, Wing, and Alter Ventures.
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“The Active Fund investment in SlashNext recognizes the evolving nature of communication for work and life — data-driven and digital, collaborative, and accessible anywhere, any time, and on any device,” said Minette Navarrete, president, Kickstart Ventures. “SlashNext’s superior technology will fortify enterprises’ defenses, allowing them to operate with speed, scale, and security, protecting both their customers and their shareholders. We’re keen to support SlashNext’s mission in tackling this global issue.”
With the new investment, SlashNext will scale its customer acquisition and operations domestically and internationally. As well as drive key distribution partnerships with MSSP, embedded OEMs, and carriers, including its new strategic investors, Telia Telecom in Europe and Globe Telecom in APAC, which represents over 40M mobile subscribers. SlashNext will further its lead in AI cloud and on-device multi-channel and multi-language detection of all forms of targeted phishing – SMiShing, Vishing, BEC, bank fraud, scams, rogue browsers, credential stealing, ransomware, social engineering, and other malicious digital user attacks – launched from legitimate hosted sites or received from trusted supply chain vendors.
“When cybercriminals launch successful spear-phishing attacks, the results are massively disruptive to people, organizations, and the economy,” said Patrick Harr, CEO, SlashNext. “This is the No. 1 cyber challenge that organizations and individuals globally face, and bad actors are only increasing their attacks and becoming more sophisticated at taking advantage of the most vulnerable part of organizations — the people. Our mission is to protect our customers from these threats, and this new funding will enable us to scale and innovate faster so that we can help customers outpace the risk.”
SlashNext’s patented cloud and on-device AI goes beyond email protection and stops spear-phishing, social engineering, and other targeted human threats across popular communication channels and collaboration apps. With its pinpoint accuracy and 48-hour time to detection advantage, only SlashNext protects organizations from these malicious user threats launched from legitimate, trusted sites that easily evade current SEG, proxy, SASE, and endpoint security tools.