What Phished does

Phished is a Belgium-based cybersecurity company that builds an AI-driven security awareness training and behavioral email security platform. Its core product combines automated, personalized phishing simulations with gamified microlearning (Phished Academy), inbox-side isolation technology (Phished Assistant), and a zero-trust email containment layer (Zero Incident Mail) designed to reduce the human-error component of data breaches. The platform is differentiated by its emphasis on continuous behavioral change rather than periodic compliance-driven training, and by a proprietary Behavioral Risk Score that quantifies organizational cyber resilience. Underlying capabilities include generative AI for simulation creation, anomaly detection on inbound email signals, predictive analytics, and a multilingual AI assistant (Aria).

The company sells through a three-tier SaaS subscription model (Core, Advanced, All-In-One) starting at $175 per month, combined with an extensive channel of 250+ managed service providers and resellers who white-label the platform across North America and Europe. It serves 6,500 companies and 1.5M+ users, including enterprise customers such as Orange, JCB, Kinepolis, The Gym Group, Fastned, Redexis, VRT, and UZA, spanning telecommunications, construction, cinema, fitness, energy, broadcasting, and healthcare verticals. The platform is certified against ISO 27001, ISO 27701, SOC 2 Type II, HIPAA, PCI DSS, GDPR, NIS2, and DORA, and is deeply integrated with Microsoft 365, Azure AD, Google Cloud Platform, and SAML 2.0.

Phished is privately held, incorporated as Phished BV in Leuven, Belgium (company registration 0735.908.019), with a regional office in London. The company raised €7.5 million in 2024 from Belgian investment fund Welvaartsfonds. It operates with an 11–50 employee base, leveraging its channel network to scale distribution without proportional headcount growth.

Name

Phished

Legal name

Phished BV

Website

https://phished.io

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Phished is a Belgium-based AI-driven security awareness training and behavioral email security platform that serves 6,500 companies and 1.5M+ users across North America and Europe through direct sales and 250+ MSP/reseller partners.

Ownership category

akta.pro rank

Product category

Cybersecurity Awareness Training

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Computer Training (61142)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Security Awareness & Phishing Simulation (Email/Collab-focused) (HDADAKAJ)

akta.pro secondary industries

Email Phishing & BEC Protection (HDADAKAB), Security Awareness, Training & Compliance Attestation (HDADAIAJ), Cybersecurity Training & Awareness Programs (BPAEANAF)

Keywords

• Security awareness training
• Phishing simulations
• Zero-trust email security
• Cybersecurity training platform
• Behavioral risk scoring

Headquarters

HQ city

Leuven

HQ country

Belgium

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. SaaS Subscription - Core Tier: Base subscription tier offering automated AI-driven simulations, report button, microlearnings, threat alerts, and administrator dashboard. Starting at $175/month. Includes compliance with NIS2, NIST, DORA, and ISO 27001 standards.
2. SaaS Subscription - Advanced Tier: Mid-tier subscription adding repeat offender training, Zero Incident Mail, user certificates (Bronze to Platinum), workflow best practices, and cyber hygiene for apps and devices.
3. SaaS Subscription - All-In-One Tier: Premium tier including all Core and Advanced features plus specific training topics (NIST, GDPR, NIS2), custom training building, Behavioral Risk Score, in-depth reporting with Power BI integration, and global enterprise management platform.
4. Partner/Reseller Revenue: MSPs and resellers white-label and resell the Phished platform to their end customers. Partners benefit from multi-tenant solution, easy customer management, and sales training. Revenue flows from partner subscriptions covering their end customers.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Phished provides an AI-driven security awareness training and cloud email security platform that combines automated, levelized phishing simulations, a gamified microlearning academy, and a zero-trust email isolation layer (Zero Incident Mail) to help organizations reduce human-error-driven security incidents. The platform is sold as a SaaS subscription in three tiers (Core, Advanced, All-In-One) and is offered both directly to enterprises and through an MSP/reseller white-label channel. It is designed to deliver continuous, automated cybersecurity training and measurable behavioral risk reduction with minimal IT overhead.

Product overview

Phished is a holistic cybersecurity training platform that combines AI-driven security awareness training with cloud email security. The core platform centers on the Phished Platform with three integrated product lines: (1) Security Awareness products including Phishing Simulations and Phished Academy for automated training; (2) Cloud Email Security products including Zero Incident Mail (ZIM) and Phished Assistant for zero-trust email protection; and (3) Supporting modules like Behavioral Risk Score (BRS), Report Button, Nanolearnings, and Aria AI assistant. The platform serves organizations across North America and Europe with support for NIS2, GDPR, and other compliance frameworks.

Differentiator

Problem solved

Functional benefit

Brands

• Phished Academy: The training and certification platform within the Phished ecosystem, offering interactive microlearning sessions, gamified training, and behavioral risk scoring for employees.
• Phished Assistant
• Zero Incident Mail (ZIM)

Products and services

• Phished Platform

Quantifiable outcome

• 90% drop in email clicks at Carconnex within 1 year
• +6 more outcomes

Named customers12 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability7 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered flagship and core.

• Mosaic CSflagshipChannel Partner/ Reseller/ DistributorUS-based compliance services provider reselling Phished to automotive dealership customers and others requiring cybersecurity training. Reports Phished as top seller in their portfolio due to customer demand. Praises automation quality, easy partner platform, and cost-effectiveness enabling upselling.
• ConXioncoreChannel Partner/ Reseller/ DistributorIT services company offering Phished as part of cybersecurity portfolio. Reports that automation eliminates time previously spent on manual security awareness training, allowing team to focus on higher-value advisory services.
• CloudwisecoreChannel Partner/ Reseller/ DistributorIT services provider reselling Phished to end customers. Confident in results to offer single free test to prospects with promise to never mention it again if no results - reports this has never happened.
• AxoncoreChannel Partner/ Reseller/ DistributorUK-based IT partner reselling Phished platform to customers as part of cybersecurity offerings.
• AcoracoreChannel Partner/ Reseller/ DistributorUK-based managed IT services provider offering Phished to customer base through white-label arrangement.
• Google Cloud PlatformcoreTechnology or IntegrationCloud infrastructure provider hosting Phished applications in distributed, container-based architecture. Data centers located in Europe and North America ensure compliance with GDPR and other privacy regulations.
• The Security FactorycoreChannel Partner/ Reseller/ DistributorCybersecurity services firm offering Phished platform as training component to its customers, emphasizing behavioral change over compliance checkbox exercises.
• WDOITcoreChannel Partner/ Reseller/ DistributorIT services company reselling Phished to enhance cyber resilience of client employees. Reports AI-driven automation delivers ongoing results for both partners and customers.
• MicrosoftcoreTechnology or IntegrationIntegration with Microsoft 365 and Azure AD for identity management. Phished supports Single Sign-On (SSO) via SAML 2.0 and integrates with Microsoft ecosystem for seamless deployment.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• KnowBe4: The dominant security awareness training and phishing simulation vendor, serving the same buyer (CISO/IT security lead) with a comparable combination of simulated phishing, training content, and compliance reporting. It is the most direct head-to-head competitor to Phished's core platform.
• Hoxhunt: Nordic-headquartered security awareness platform combining AI-personalized phishing simulations with gamified training and measurable behavior change. Directly comparable to Phished on automation, personalization, and behavioral metrics approach.
• SoSafe: European security awareness and phishing simulation vendor offering automated, gamified training with behavioral analytics. Targets the same mid-market and enterprise segments in Europe as Phished with a similar product-led approach.
• CybeReady: Automated security awareness and phishing simulation platform focused on continuous, autonomous training with minimal IT effort. Closely mirrors Phished's 'zero IT workload' and automation-led value proposition.
• NINJIO: Security awareness vendor using short, episodic microlearning content centered on real-world breaches. Overlaps with Phished Academy's microlearning approach and gamified certifications.
• Terranova Security: Security awareness and phishing simulation provider with strong GDPR/NIS2-oriented content and multilingual training. Competes with Phished for European compliance-driven buyers.

Broad incumbents

• Proofpoint Security Awareness: Proofpoint's security awareness training (originally acquired via Wombat Security) competes with Phished for enterprise security budgets. It is a broader incumbent offering awareness as part of a wider people-centric security portfolio rather than as a standalone, AI-native platform.
• Cofense: Phishing detection, response, and awareness vendor combining simulated phishing with real-time threat intel. Overlaps with Phished's phishing simulation and Zero Incident Mail capabilities as part of a broader email security suite.
• Mimecast: Cloud email security vendor whose awareness and resilience features overlap with Phished's Zero Incident Mail and Phished Assistant products, offering a broader email security stack as competition.
• Microsoft Defender for Office 365: Bundled phishing protection, attack simulation training, and security awareness inside the Microsoft 365 ecosystem. Represents the bundled-incumbent threat to Phished's standalone security awareness and email-security positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/18675665

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Phished