Spikerz, an innovative cybersecurity company focused on safeguarding social media accounts, has raised $7 million in a funding round led by Disruptive AI. Joining the investment were Horizon Capital, Wix Ventures, Storytime Capital, and BDMI. This funding will fuel the enhancement of Spikerz’s AI-powered platform, which aims to combat the growing epidemic of social media security breaches.
The company’s AI-driven technology provides a comprehensive defense against hacking, phishing, scams, and impersonators, addressing a critical issue in the digital age. Spikerz’s platform not only protects accounts but also ensures visibility by mitigating shadowbans and other disruptions.
The escalating threat to social media security is clear. Reports indicate that 1.4 billion social media accounts are compromised monthly, with account hijackings rising by 1,000% from 2021 to 2022. The FBI’s 2023 Internet Crime Report revealed global cybercrime losses of $12.5 billion, a number expected to grow as attacks become more sophisticated.
Spikerz collaborates with partners like Wix, which has integrated the platform’s solutions to address security needs for its vast user base. Eitan Israeli of Wix Ventures noted the platform’s potential, emphasizing its value for both large enterprises and SMBs. He expressed confidence in Spikerz’s ability to deliver significant industry impact.
With the new funding, Spikerz is poised to expand its reach and enhance its technology, offering timely solutions to the mounting threats in social media security. This marks a pivotal moment in the fight against cybercrime, making social media a safer environment for users worldwide.
Featured image: Credit: Spikerz
