News
Mimecast Releases Its CyberGraph AI Email Security Tool
If a malicious email message is detected, CyberGraph will display a color-coded contextual warning banner to warn the user and encourage them to take the right action.
Since the outbreak of the COVID-19 pandemic forced many businesses around the Middle East to close their offices and abruptly transition to remote working, email phishing attacks have increased both in number and sophistication. This concerning new trend has put the topic of email security as a top priority for many businesses in the region.
According to Mimecast, a provider of cloud cybersecurity services for email, employees now click on three times as many malicious emails as they did before the term “social distancing” entered our collective lexicon.
Determined to better protect its customers against this growing threat, Mimecast has just launched a new artificial intelligence (AI)-enabled tool for email security, called CyberGraph. The tool promises to keep email phishing attacks at bay using machine learning algorithms capable of detecting anomalous behaviors that could be indicative of a malicious email.
“CyberGraph leverages our AI and machine learning technologies to help keep employees one step ahead with real-time warnings, directly at the point of risk,” explains Josh Douglas, threat intelligence lead at Mimecast. “Phishing and impersonation attacks are getting more sophisticated, personalized, and harder to stop. If not prevented, these attacks can have devastating results for an enterprise organization. Security controls need to be constantly updated and improved to outsmart threat actors,” he added.
Whenever CyberGraph determines an email message to be malicious, it displays a color-coded contextual warning banner to warn the user and encourage them to take the right action, such as mark the email as spam.
Also Read: Is Your Phone Hacked? How To Find Out & Protect Yourself
In addition to its ability to distinguish malicious email messages from legitimate ones, CyberGraph can also disarm trackers embedded in emails to keep unauthorized third parties from getting their hands on information that could be used to orchestrate highly targeted phishing attacks.
Like other cybersecurity solutions powered by machine learning algorithms, CyberGraph’s effectiveness will keep improving over time as more users adopt it to protect their inboxes.
News
Paymob Extends Series B Funding To $72M Amid Continued Growth
The financial services provider has secured an extra $22 million after strong performance in its core market of Egypt.
Leading financial services provider Paymob has secured an additional $22 million in a funding extension, bringing its Series B total to $72 million.
The funding was spearheaded by EBRD Venture Capital, with support from Endeavor Catalyst. Existing backers such as PayPal Ventures, BII, FMO, A15, Nclude, and Helios Digital Ventures also participated, reaffirming their confidence in Paymob’s business model and potential in the regional fintech industry.
This extension comes on the back of Paymob’s strong performance in its core market of Egypt, where it has experienced 6x revenue growth since the initial Series B in Q2 2022. With the Series B extension and continued profitability in Egypt, Paymob is well-positioned to further its expansion strategy across the MENA region.
Islam Shawky, Co-founder and CEO of Paymob, commented: “We are very excited by our strong prospects in Egypt – where we hold a market-leading position – and the significant traction experienced in the UAE since launching operations there. This funding will help Paymob fully capitalize on the momentum in our established markets, as we accelerate our GCC roll-out. We remain committed to creating cutting-edge infrastructure enabling SMEs across the region to thrive in the digital economy and are proud of our continued impact”.
Also Read: Zoho Expands Qatar Operations & Releases New Survey Data
The expansion into GCC markets has been driven by Paymob’s initial Series B funding of $50 million, raised in 2022 and led by Kora Capital, PayPal Ventures, and Clay Point. The investment fueled Paymob’s growth, allowing it to launch its mobile app in 2023 and grow its merchant base by 3.5 times, now serving nearly 350,000 merchants across MENA.
Paymob has also expanded its payment acceptance suite to offer 50 payment methods through its gateway, POS terminals, and the Paymob app, providing the region’s most comprehensive fintech solution. The company recently introduced embedded checkout services for Shopify and WooCommerce, further demonstrating its commitment to empowering small and medium businesses across the region.