Hook, Line, and Sinker: Bolster Nets $14M to Reel in Phishing Scams with AI Power

Beware the bait! AI startup Bolster reels in $14M to hook phishers peddling faux links. Microsoft bites, backing the fight against cyberattacks that start with a click and end with a kick to security. Now that’s a catch!

Hot Take:

Just when you thought your spam folder was the most action-packed place in your digital life, here comes Bolster with its AI cape flapping in the wind, ready to slam the phishing scammers down into the abyss of internet irrelevance. With a fresh $14 million in their pocket, these cyber heroes are here to make sure those “You’ve won a bazillion dollars!” emails remain a thing of the past. And Microsoft’s M12, with its hefty investment, seems to be buying front row tickets to the show.

Key Points:

  • Bolster, an AI startup, just got a $14 million cash injection to fight phishing with its CheckPhish tool and services for brands.
  • Microsoft’s venture fund M12 is leading the funding round, signaling some serious interest from the tech giant.
  • The company is on a mission to protect businesses and their customers from email scams, which are the gateway to over 90% of cyberattacks.
  • Bolster uses AI to scan the web and nip phishing schemes in the bud by taking down the root sources.
  • While it’s a B2B operation, Bolster’s work indirectly shields us, the consumers, from the dark art of phishing.

Need to know more?

Money Magnet for Phish-Fighters

Bolster is making it rain with a whopping $14 million funding round. They're like the Batman of the cyber world, but instead of a Batmobile, they've got machine learning algorithms. And instead of Alfred, they've got Microsoft's M12 and a squad of investors backing their crime-fighting spree. With about $40 million in their utility belt so far, they're not disclosing their valuation, but let's just say they're not rummaging through couch cushions for spare change.

Playing Whack-a-Mole with Phishers

Phishing scams are like that annoying fly that keeps buzzing around your head. Bolster's business model is essentially a giant fly swatter. Companies that send tons of emails are prime targets for these digital swindlers, and Bolster's here to protect big names like Dropbox and Uber from becoming unwilling accomplices in these scams. They're not just putting up a "Beware of Dog" sign; they're unleashing a pack of AI-powered hounds to keep the bad guys at bay.

Phishing: A Cheap Thrill for Hackers

Apparently, setting up a fake website is cheaper than a Netflix subscription. With pocket change, anyone can start a phishing campaign that could fool even the savviest web surfer. Bolster's CTO, Shashi Prakash, reveals that these bad actors are doing this "within minutes," using AI to create eerily realistic fake login pages. It's like finding a doppelganger of your trusted bank website, except this evil twin is after your wallet.

Shutting Down the Phish Market

It's one thing to recognize a scam, quite another to shut it down. Bolster's AI doesn't just play detective; it plays judge, jury, and executioner by automatically taking down the scam's source. This is crucial because while your email filter might catch some fishy emails, Bolster ensures that even if a scammy link slips through, it'll lead to a dead end. The result? Hackers' efforts sink faster than a lead balloon.

Microsoft's Strategic Bet

Microsoft's involvement isn't just a casual fling; it's looking at a long-term relationship. With a vested interest in both protecting its brand and its massive user base from phishing attacks, Microsoft sees Bolster as a potential ally. Plus, as Microsoft delves deeper into AI, incorporating Bolster's tech could be like adding a supercharger to their cybersecurity engine.

The Consumer Connection

Last but not least, while Bolster's primary clients are businesses, their work ripples out to the everyday consumer. Next time you get a sketchy email pretending to be from your bank, you can thank Bolster for ensuring it's as harmless as a kitten. Because at the end of the day, protecting businesses from phishing also means protecting their customers—you and me.

Tags: AI-driven security, Brand Protection, , machine learning, Phishing Detection, threat protection, Venture Funding