|[February 04, 2013]
PhishLabs Secures Series A Funding to Address Unprecedented Demand for Cybercrime Services
CHARLESTON, S.C. --(Business Wire)--
today announced it has completed a $1.2 million Series A round of
venture financing. The investor syndicate includes security industry
veteran Tony Prince, former chief executive officer of managed security
services company LURHQ, which was acquired by SecureWorks in 2006.
Leveraging decades of Internet security experience, PhishLabs combats
all types of Internet threats by attacking the entire cybercrime
ecosystem. The company provides comprehensive, best-in-class cybercrime
management services to cost-effectively prevent
and mitigate attacks, and protect the integrity of trust in online
channels. PhishLabs services extend beyond simply shutting down attacks
when they occur; they proactively target the infrastructure used to plan
and carry out attacks, thereby preventing future attacks from occurring.
"PhishLabs empowers our customers to take a more active role in fighting
cybercrime," said John LaCour, PhishLabs founder and chief executive
officer. "We empower our customers to prevent futre attacks rather than
just clean up after they occur -- targeting the entire fraud ecosystem
and infrastructure. This funding will help us accelerate sales and
marketing initiatives and continue innovating to stay ahead of market
demand, as well as evolving threats."
PhishLabs clients include large national and international banks, credit
unions, ecommerce companies, service providers and social networking
companies. In addition to anti-phishing, anti-malware and anti-vishing
solutions, PhishLabs' offerings include services that mitigate and
prevent denial-of-service attacks, job scams, brand abuse, rogue mobile
applications and other cyber threats.
Lead investor, Tony Prince, also an operating partner at Frontier
Capital, has over 15 years experience operating business service and IT
security companies. He was the founder and chief executive officer of
LURHQ, which grew into one of the premier IT security companies in the
United States and was acquired by SecureWorks, now a division a Dell (News - Alert).
Today, SecureWorks continues to use the technologies developed at LURHQ
to secure thousands of businesses nationwide. Prince is also joining the
PhishLabs Board of Directors.
"While many vendors take a passive approach to cybercrime that does
little to actually deter fraud, PhishLabs is taking a much more
aggressive and proactive approach. It is empowering banks and other
online businesses to not only defend themselves, but target the
attackers directly. This innovation, along with the customer excitement
and demand it is creating, led to my interest and investment in the
company," said Prince.
PhishLabs is a leading provider of security services that help prevent
credential theft, stop fraud losses, and protect the trust earned from
customers. Partnering with customers to extend existing protection
efforts and effectively fight cybercrime, the company's comprehensive
set of anti-phishing, anti-malware, and other ecrime management services
enable enterprises to reduce the number, size and impact of attacks -
thus reducing an attacker's return on investment (ROI). The company goes
beyond simply stopping identified attacks, targeting the infrastructure
used to plan and execute attacks. The company's unique fixed-fee
business model creates client relationships that are focused on
measurably reducing attacks, rather than on the analysis and response
services of traditional providers that yield minimal changes to the
number or severity of attacks.
For more information, visit http://www.phishlabs.com
or contact firstname.lastname@example.org.
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