Area 1 offers cybersecurity a la carte with its new ‘pay-per-phish’ plan

To convince skeptical customers of the value of cybersecurity, Area 1 is offering a payment plan that only charges when the company stops a phishing attempt.

Yesterday, cybersecurity startup Area 1 announced a first-of-its-kind ‘pay-per-phish’ pricing model after it closed a $32m funding round.

Area 1 offers cybersecurity a la carte with its new ‘pay-per-phish’ plan

As cybercrime increases, well-funded cybersecurity startups are popping up left and right — but their clients are proving more difficult to reel in.

Too many phishermen, not enough phishing

The problem of phishing, or stealing personal digital information — not to be confused with ‘fishing’ (removing marine creatures from water) or ‘Phish-ing’ (following a jam band across the country) — costs American businesses $500m+ per year.

And, though it’s expected to bring in $114B this year, it seems the cyber-security industry has outpaced consumer need — pulling in a 100% increase in funding despite just a 12.4% increase in client spending.

Only pay for the phish you catch

High, flat-rate fees for cybersecurity services scare off many clients who are uncertain that cybersecurity systems even work (thanks for ruining it for everyone, MacKeeper). 

But, Area 1’s ‘pay-per-phish’ model charges $10 for every phish caught, eliminating both skepticism about cybersecurity’s effectiveness and confusion about its price.

Today, only Area 1 offers phish a la carte. But with phishing on the rise, competitors will likely adjust to phishing’s new market price. 

Get the 5-minute news brief keeping 2.5M+ innovators in the loop. Always free. 100% fresh. No bullsh*t.