Press Release – PhishLabs Raises $1.2M Series A
CHARLESTON, SC, February 5, 2013 – PhishLabs 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 future 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. 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 the leading provider of cybercrime protection and intelligence services that fight back against online threats and reduce the risk posed by phishing, malware, distributed denial of service (DDoS) and other cyber-attacks. The company fights back against cybercrime by detecting, analyzing and proactively dismantling the systems and illicit services cybercriminals depend on to attack businesses and their customers. With a fixed-fee service model that ensures alignment with client goals, the company partners with businesses to decrease attacks, reduce online fraud and prevent the loss of customer trust.
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