--- title: Is that really your boss calling? Jericho Security raises $15M to stop deepfake fraud that’s cost businesses $200M in 2025 alone description: The Department of Defense has awarded its first generative AI defense contract to Jericho Security, marking a strategic shift in military cybersecurity. The $1.8 million Small Business Technology Transfer (STTR) Phase II contract, announced through AFWERX, tasks the New York-based startup with developing advanced cybersecurity solutions for the Department of the Air Force. image: //www.jerichosecurity.com/hubfs/Venture-Beat.webp --- [![Jericho Security logo](https://www.jerichosecurity.com/hubfs/assets/images/Jericho-Security.svg)](https://www.jerichosecurity.com/) [![Jericho Security logo](https://www.jerichosecurity.com/hubfs/assets/images/Jericho-Security.svg)](https://www.jerichosecurity.com/) - Why Jericho Why choose Jericho Security? See what sets Jericho Security apart from the rest. 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Jericho Security raises $15M to stop deepfake fraud that’s cost businesses $200M in 2025 alone ![](https://www.jerichosecurity.com/hubfs/Venture-Beat.webp) New York-based [Jericho Security](https://www.jerichosecurity.com/) has secured $15 million in Series A funding to scale its AI-powered cybersecurity training platform. The investment, announced today, follows the company’s successful five-month execution of a [$1.8 million Department of Defense contract](https://venturebeat.com/ai/meet-the-startup-that-just-won-the-pentagons-first-ai-defense-contract/) that put the two-year-old startup on the cybersecurity map. “Within minutes, a sophisticated attacker can now create a voice clone that sounds exactly like your CFO requesting an urgent wire transfer,” said Sage Wohns, co-founder and Chief Executive Officer of Jericho Security, in an exclusive interview with VentureBeat. “Traditional cybersecurity training simply hasn’t kept pace with these threats.” The funding round was led by Jasper Lau at [Era Fund](https://www.erafunds.com/), who previously backed the company’s $3 million seed round in August 2023. Additional investors include [Lux Capital](https://www.luxcapital.com/), [Dash Fund](https://dashfund.co/), [Gaingels Enterprise Fund](https://gaingels.com/) and [Gaingels AI Fund](https://gaingels.com/), [Distique Ventures](https://www.distiquecapital.com/), [Plug & Play Ventures](https://www.plugandplaytechcenter.com/venture-capital/ventures-team), and several specialized venture firms.   ## Military cybersecurity contract established credibility in competitive market   Jericho’s profile rose significantly last November when the Pentagon selected the company for its first generative AI defense contract. [The $1.8 million award through AFWERX](https://venturebeat.com/ai/meet-the-startup-that-just-won-the-pentagons-first-ai-defense-contract/), the innovation arm of the Air Force, charged Jericho with protecting military personnel from increasingly sophisticated phishing attacks. “There was a highly publicized spear-phishing attack targeting Air Force drone pilots using fake user manuals,” Wohns noted in an earlier interview. The incident underscored how even highly trained personnel can fall victim to carefully crafted deception. This federal contract helped Jericho stand out in a crowded cybersecurity market where established players like [KnowBe4](https://www.knowbe4.com/), [Proofpoint](https://www.proofpoint.com/us), and [Cofense](https://cofense.com/) dominate. Industry analysts value the security awareness training sector at $5 billion annually, with [projected growth to $10 billion by 2027](https://cybersecurityventures.com/security-awareness-training-market-to-hit-10-billion-annually-by-2027/) as organizations increasingly recognize human vulnerability as their primary security weakness.   ### [Read Full Story at Venture Beat](https://venturebeat.com/ai/is-that-really-your-boss-calling-jericho-security-raises-15m-to-stop-deepfake-fraud-thats-cost-businesses-200m-in-2025-alone/) ##### Categories - [News (14)](https://www.jerichosecurity.com/resources/tag/news) - [White Papers & Solution Briefs (11)](https://www.jerichosecurity.com/resources/tag/white-papers-solution-briefs) - [Events (7)](https://www.jerichosecurity.com/resources/tag/events) - [Case Study (6)](https://www.jerichosecurity.com/resources/tag/case-study) - [Webinars (5)](https://www.jerichosecurity.com/resources/tag/webinars) - [Announcements (3)](https://www.jerichosecurity.com/resources/tag/announcements) - [Community Spotlight (3)](https://www.jerichosecurity.com/resources/tag/community-spotlight) #### Subscribe to our newsletter Get the latest updates on phishing trends and generative AI. 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