PhishLabs procures $1.2 million funding to meet high demand for Cybercrime services

Infotech Lead America: PhishLabs 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. Prince is also joining the PhishLabs Board of Directors. The investment enables PhishLabs to expand sales, marketing and development of innovative technology for targeting cybercriminals.

“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 has decades of experience in providing internet security that combats all types of internet threats caused by attacking the entire cybercrime ecosystem. The company provides comprehensive cybercrime management services to cost-effectively prevent and mitigate attacks and protect the integrity of trust in online channels. PhishLabs services not only shuts down attacks when they occur; they also proactively target the infrastructure used to plan and carry out attacks, thereby preventing future attacks from occurring.

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.

“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.

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