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American Focus > Blog > Tech and Science > Is that really your boss calling? Jericho Security raises $15M to stop deepfake fraud that’s cost businesses $200M in 2025 alone
Tech and Science

Is that really your boss calling? Jericho Security raises $15M to stop deepfake fraud that’s cost businesses $200M in 2025 alone

Last updated: April 25, 2025 1:25 am
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Is that really your boss calling? Jericho Security raises M to stop deepfake fraud that’s cost businesses 0M in 2025 alone
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New York-based Jericho Security has recently announced securing $15 million in Series A funding to expand its AI-powered cybersecurity training platform. This funding comes on the heels of the company’s successful completion of a $1.8 million Department of Defense contract, which helped establish Jericho Security as a key player in the cybersecurity industry.

CEO Sage Wohns highlighted the growing threat landscape, stating that attackers can now create voice clones that mimic company executives to deceive employees into transferring funds. Traditional cybersecurity training methods are struggling to keep pace with these evolving threats, making innovative solutions like Jericho Security’s platform essential for organizations.

The Series A funding was led by Era Fund, with additional support from Lux Capital, Dash Fund, Gaingels Enterprise Fund, Gaingels AI Fund, Distique Ventures, and Plug & Play Ventures. This investment will enable Jericho Security to further develop its AI-driven training simulations and expand its reach in the market.

Jericho Security gained significant credibility in the cybersecurity space after being awarded a $1.8 million contract from the Pentagon to protect military personnel from phishing attacks. This contract highlighted Jericho’s unique approach to training, which uses agentic AI to simulate real-world attack scenarios and adapt to individual employee behaviors.

The company’s platform offers multi-channel simulations, including email, voice, text messaging, and video calls, to create personalized training experiences for employees. By analyzing employee responses to these simulations, organizations can identify vulnerabilities and tailor remediation efforts to improve security awareness.

Wohns also shared a case study where a CFO in Singapore fell victim to a deepfake-enabled fraud scheme, resulting in a substantial financial loss. This incident underscores the growing prevalence of deepfake attacks, with global losses exceeding $200 million in the first quarter of 2025. As deepfake technology becomes more sophisticated, organizations must be vigilant in training employees to recognize and respond to these threats.

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Looking ahead, Jericho Security is focused on addressing emerging threats, such as AI agents targeting other AI systems. By staying ahead of these evolving risks and continuously updating its platform, Jericho aims to future-proof organizations against cyber threats.

The company’s self-service platform allows smaller businesses to access AI-powered security training without the need for lengthy procurement processes. This approach democratizes cybersecurity training and empowers organizations of all sizes to enhance their security posture.

With the support of its investors, Jericho Security is poised to lead the charge in innovative cybersecurity training solutions. By leveraging AI technology and adapting to the ever-changing threat landscape, Jericho aims to redefine trust in digital environments and empower organizations to defend against sophisticated cyber attacks.

TAGGED:15M200MBossbusinessesCallingCostdeepfakefraudJerichoraisesSecuritystop
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