Metrofile-owned data management services firm IronTree has entered a strategic partnership with cyber security start-up Sendmarc to fight e-mail impersonation attacks on the African continent.
The deal follows both companies recently attracting significant attention for their cyber security solutions, with Sendmarc receiving two rounds of funding, first from Kalon Venture Partners, and then Endeavour South Africa 2021; while IronTree was acquired by JSE-listed Metrofile in December.
In a statement, the companies say the strategic partnership agreement means IronTree’s team will complete a tailored training programme to achieve certification and actively pursue an exploding domain-based message authentication, reporting and conformance (DMARC) software market.
This market is expected to grow at 55.5% CAGR in terms of revenue, with the global market forecast to reach $463.5 million by 2025, according to a 360 Research Report.
They add that with almost 4.3 billion people using e-mail, and 300 billion e-mails sent every day, 96% of phishing attacks arrive by e-mail, and 94% of malware attacks occur via e-mail.
In summary, the firms note, e-mail fraud has crippled and embarrassed many businesses.
Sendmarc mitigates a flaw in e-mail design that lets a criminal insert any sender’s address in a forged e-mail, a tactic now widely exploited by criminals.
To combat this, it says two million organisations have adopted the global security standard for e-mail, DMARC, which was established a few years ago by a consortium of the world’s largest technology companies to create a global protocol that will end the impersonation problem.
According to Sendmarc, the authors, adopters and enforcers of this standard include Google, Microsoft, Apple, PayPal, Facebook, the US Department of Homeland Security, the EU government and many others.
It points out this is now stated as global best practice and all domain owners must become compliant to protect the world from phishing and spoofing attacks.
“Brands need to stop e-mail fakery and ensure their brand can be trusted. Sendmarc secures and safeguards e-mail, making sure only the real thing is received, and by that, we mean any e-mail received is assured to come from the real sender,” explains Sacha Matulovich, co-founder and chief strategy officer.
“No one can impersonate you. Sendmarc is helping make the internet safer for everyone and restoring user trust, by helping make the inbox a safer place.”
“No matter who you are, be it an individual, business or even government, it is not difficult to get impersonated or ‘spoofed’. However, there’s no reason for this vulnerability to be left unattended, considering the risk to reputation, employees, clients and partners,” says David Lees, co-founder of IronTree.
“Organisations need to check, double-check and triple-check they have the right cyber security partner, one that evolves with the threats and stays ahead of a sharp and unpredictable risk curve.
“With thousands of clients processing more than 400 million e-mails per month and servicing 35 JSE-listed companies, Sendmarc is a perfect fit for IronTree. We are aligned in our view of utilising the finest technology and delivering premium service.”
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