Goodmail Systems announced yesterday it has received $5 million in funding, $4 million of which came from Omidyar Network, a philanthropic investment firm started by eBay founder Pierre Omidyar and his wife, Pam.
This is on top of $20 million it received in funding in November in a round led by Bessemer Venture Partners.
Goodmail said in a release it plans to use the money to enhance its core product CertifiedEmail, anti-phishing and fraud technology that for a fee certifies e-mail messages are from who they say they are from and labels them as such.
Phishers—or thieves who attempt to dupe people into divulging financial information such as account numbers and passwords to steal from their accounts—often do so by sending messages fraudulently purporting to be from legitimate financial institutions and sites on which people make financial transactions, such as eBay.
CertifiedEmail aims to build trust among people who get messages from Goodmail’s clients that the e-mails they receive really are from those firms.
In addition to capital, Omidyar Network will also support Goodmail with expertise, the company announced. Matt Halprin, a partner at Omidyar Network, will join Goodmail’s board of directors. Halprin previously was vice president of global trust and safety for eBay, where he was responsible for, among other things, minimizing fraud, the company said.
“We’re excited that Goodmail is Omidyar Network’s first investment related to our recently added focus on trust, reputation and identity,” said Halprin in a statement. “Goodmail stands out in a crowded field of companies looking to take the security risks like phishing scams, malware and viruses out of email communication. By supporting companies that help foster trust online, Omidyar Network hopes to encourage increased engagement in online platforms.”
