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PhishMe, the leading provider of human phishing defense solutions, has announced that from February 26, 2018, the firm will be known as Cofense. Along with the name change, the firm has announced it has been acquired by a private equity syndicate, which valued the firm at $400 million.
PhishMe was formed in 2007 with the aim of developing products and services to tackle the growing threat from phishing. Employees have long been viewed as the weakest link in security, yet the human element of security defenses was often neglected. Over the years, PhishMe developed its products and services to help companies improve their last line of defense and turn security liabilities into security assets.
PhishMe has helped thousands of organizations improve their defenses against phishing through training and phishing simulations. The firm has also developed a range of associated products and services including a reporting platform that has now been adopted by more than 2 million users, as well as incident response and threat intelligence services.
While phishing defense is still at the heart of the, the name change reflects the more comprehensive range of products and services now being offered and future plans for expansion of its enterprise-wide attack detection, response, and orchestration solutions.
The acquisition will help in that regard. With the backing of the private equity syndicate, the company’s finances have been secured and the firm is planning to expand and enhance its products and services and increase its global reach.
“This acquisition further strengthens the alignment between our management team, employees, and investors as we focus on building an enduring company,” explained Cofense co-founder and CEO Rohyt Belani. “With cybersecurity a top priority for organizations everywhere, our goal is to continue bringing innovative products to markets around the globe to help stop active attacks faster than ever.”