A UK start-up that develops a tool to prevent users sending emails to the wrong person has raised $13m (£9m) in new funding.
Tessian secured the funding from investors Balderton Capital and Accel, known for its early investments in Facebook, Dropbox and Deliveroo.
Tessian develops email software to warn users who might be about to accidentally send an email to the wrong person. The software analyses messaging patterns so if a user misspells a name or lists the wrong contact, it will alert them before they hit send.
The founders believe the new software will be particularly useful for companies concerned about fines under General Data Protection Regulation (GDPR), which can see companies fined up to 4pc of global turnover for the worst data breaches.
The start-up was founded by former Imperial College students Tom Adams, Ed Bishop and Tim Sadler in 2013. The company said it had grown revenues by 400pc in the past year and works with clients including Schroders, Man Group and 70 law firms.
The company has grown from 13 employees to more than 50 people in the last year.
Co-founder Mr Sadler said: "With the recent report from the ICO that misaddressed emails are now the number one data security incident reported to them and GDPR now in full swing, companies should make addressing this risk a top security priority.
"It’s human nature to fear scary things like hackers or malware, but we often don’t think twice about the dangers behind something as familiar and ingrained as sending an email."
As part of the investment, Balderton partner Suranga Chandratillake and Accel partner Luciana Lixandru will both join Tessian's board. The lead investors are joined by backing from Amadeus Capital Partners, Crane, LocalGlobe, Winton Ventures and Walking Ventures.