PhishFirewall Closes Lead Investor in $2.5MM Initial Seed Round

By Heath Fellows.
Updated Feb 21, 2022

HUNTSVILLE, Ala. (PRWEB) February 21, 2022 - PhishFirewall, a cybersecurity SaaS company, has secured and closed the lead investor in its $2.5MM series seed financing round. The Cox Group, headquartered in Mt. Vernon, Indiana leads the round, and Barry Cox, the Cox Groups president, joins PhishFirewalls board of directors.

PhishFirewall uses automated and individualized social engineering and training, powered with artificial intelligence and advanced analytics. It creates a human firewall against phishing attacks. The company was founded by world-renowned ethical hacker and cybersecurity consultant Joshua Crumbaugh, who, for decades, protected global enterprises and the organizations that regulate them. He hacked the unhackable to reveal their cybersecurity weaknesses. Crumbaugh developed the PhishFirewall solution after recognizing the deep need for a scalable tool that solves the problem efficiently. His clients existing solutions at the time were underperforming, and their employees were still clicking on phishes and leaving the companies exposed. By addressing the problem at its source, PhishFirewall lowers the risk.

Cybersecurity is a human problem, not a technology problem, said Joshua Crumbaugh, PhishFirewall founder and Chief Technology Officer. Our approach combines proven technology and neuroscience to move beyond temporary memorization and train human instincts for sustained awareness. When we audit the behaviors of a typical new client, we find that roughly 20% of hacker emails are clicked on by their employees. That means one-fifth of all data breeches and ransomware attempts were successful, at significant risk. Within four months of employing PhishFirewall methods, were able to get that number down to less than 1%. By 6 months, the click-through-rate is even lower. Its the most effective defense against ransomware and data breeches that Ive seen.

PhishFirewall specializes in serving clients within critical infrastructure sectors. They currently serve clients in finance, manufacturing, logistics, utilities and education.

The demand for high-performance cybersecurity awareness and training solutions with scalable phishing emulations is rapidly growing, said PhishFirewall CEO Johnny Thorington. Were seeing this demand, not only from the critical infrastructure enterprises, but from their insurers. The Cox Groups participation in this funding round helps equip us to meet that demand. We are also proud to have Barry Cox join our board and bring his expertise growing technology-driven businesses and turnkey solutions to the team.

After getting to know the PhishFirewall team and seeing their products results firsthand, we were eager to join them, said Barry Cox, President of The Cox Group. Our philosophies are very similar. We believe in building lasting relationships with our customers and delivering cutting-edge solutions to their most complex challenges. We help customers improve efficiencies and lower business disruption risks. PhishFirewall is doing the same thing, just applied to cybersecurity business risks. We look very forward to helping them drive this solution into the market and protect other businesses like ours.

ABOUT PHISHFIREWALL Founded by Joshua Crumbaugh, an internationally-known cybersecurity and social engineering expert, PhishFirewall is a cybersecurity awareness, threat emulation and analytics solution firm. The solution is built upon the science of learning and psychology of behavior change, and delivers sustained cybersecurity awareness and lower risk. PhishFirewall specializes in protecting enterprises in high-profile critical infrastructure sectors. The Company currently serves clients in finance, manufacturing, logistics, utilities and education.

ABOUT THE COX GROUP The Cox Group Holding Company 2016 is WBENC certified Womens Business Enterprise headquartered in Mt. Vernon, IN. The company mission is to be a global service provider that is customer driven, responsive, flexible, and cost effective, accomplishing this vision through employee pride and commitment. The company provides technology-driven, turnkey solutions in transportation, warehousing and distribution.

PhishFirewall Contact: Clark Barron, Product Marketing Manager clark.barron@phishfirewall.com 844.407.4474