“We recognized the potential of the social media security market, which is why we chose to lead Spikerz’s Pre-Seed round back in 2023. With the current funding, we believe that by 2025, SPIKERZ will be able to make a significant breakthrough in the international market.” said Yaniv Jacobi, Managing Partner at Horizon Capital.

Spikerz, a startup focused on securing social media accounts, has successfully raised $7 million in its latest funding round. Following the Pre-Seed led by Horizon Capital, this round is led by Disruptive AI and includes Horizon Capital, Wix Ventures (fka Wix Capital), Storytime Capital, and BDMI. The investment empowers Spikerz to expand its innovative platform, enhance its technological capabilities, and grow its footprint in the burgeoning field of social media security.

Addressing the Rising Challenges in Social Media Security

As individuals and businesses increasingly generate significant income through social media, security threats have become a critical challenge. In the first half of 2024, approximately 20 million Facebook accounts were compromised, contributing to an estimated $3 billion in losses. High-profile breaches, such as Drake’s account promoting a crypto meme coin and Manchester United’s compromised platforms, underscore the severe risks faced by influencers, creators, and enterprises. From McDonald’s, Open AI, Metallica, and Wiz Khalifa’s, cyberattacks are targeting digital assets, causing reputational damage and significant financial losses.

The creator economy, valued at $250 billion in 2023 and projected to reach $480 billion by 2027, relies heavily, if not entirely, on social media. While in the same time, we see an increase of 1000% in successful account takeovers. Spikerz addresses these vulnerabilities with an advanced platform that protects accounts, detects fraudulent activity, and provides proactive solutions to safeguard users’ income and digital presence. 

“Social media platforms have become a critical source for businesses, SMBs, and brands worldwide. Yet, the growing sophistication of malicious actors, also using GenAI, poses a significant threat to these livelihoods. At Spikerz, we are committed to staying ahead of the curve with AI-driven tools and cybersecurity expertise that ensure accounts remain protected. This funding is a testament to the urgency of the problem and the trust our investors have placed in us to solve it,” said CEO Naveh Ben Dror. 

A Technology-Driven Solution

Founded by veterans of the offensive and defensive cyberwarfare space – Naveh Ben Dror, Ron Storfer, and Ron Azogui, Spikerz built a web platform designed to ensure accounts are fully protected from hacking events. Spikerz offers a comprehensive 360-degree solution by tracking and neutralizing phishing attacks, scams, and ransom attempts by utilizing unique AI technology.

Key features of the platform include:

  • Hacking Prevention: Comprehensive account protection against phishing, scams, and ransom threats.
  • Impersonator and Bot Defense: Advanced detection and removal of fake accounts and malicious bots.
  • Shadowban Mitigation: Tools to identify and resolve issues that restrict account visibility.

Driving Growth and Expansion

Following the pre-seed round led by Horizon Capital, this $7 million funding will enable Spikerz to accelerate the development of its platform. By integrating AI and cybersecurity tools, expand its global market presence and focus on high-risk sectors.

Read More about Spikerz Fundraising:

VentureBeat: Spikerz secures $7 million to bolster social media security with AI innovation
CalclisTech: Spikerz raises $7 million to boost social media security
NY Tech: Spikerz Raises $7 Million to Boost AI-Driven Security Against Social Media Threats