TEMPE, AZ — (November 13, 2006) — LifeLock, the industry leader in the prevention of identity theft, today announced it has raised $6 million in a first round venture investment from one of the world’s leading venture capital firms, Bessemer Venture Partners. Among other uses, the funding will be used to extend consumer awareness of LifeLock’s pioneering, guaranteed services—already the world’s most popular defense against identity theft.
“We thank our tens of thousands of satisfied customers who made it possible for us to attract Bessemer as a partner,” said Todd Davis, CEO of LifeLock. “Bessemer’s century of experience funding ventures in financial services and information security will help us sustain LifeLock’s friendly, dependable service through this hypergrowth phase of our business.”
LifeLock was founded last year by seasoned veterans in the fields of banking, payment, credit and security who set out to defend individuals from the onslaught of identity theft at a time when our personal information credentials are increasingly compromised through the mail, medical records, and the internet. They crafted a simple, pro-active service for guaranteed ID theft prevention offered to the public for just $10 per month or $110 per year. Already, many colleges and universities, professional associations, credit unions and others have chosen LifeLock as their preferred ID theft prevention partner.
“The reported rise in data breaches among vendors, banks and web sites exposes the need for new technology to defend us from the onslaught of I.D. thieves,” said David Cowan, the Bessemer partner who has joined LifeLock’s board of directors. “So as Bessemer set out to find and fund the solution to this problem, it was clear to us that LifeLock has the winning team, the best technology, and the happiest customers.” Mr. Cowan’s previous investments include security service providers Postini, Cyota (acquired by RSA), Counterpane (acquired by British Telecom), and Verisign, which Cowan co-founded in 1995.
About LifeLock LifeLock was the nation's first ID Theft Prevention Company that maintains active fraud alerts with the three major credit bureaus, as well as ChexSystems. LifeLock gives people control of their own information, giving them the ability to authorize every risky transaction such as address changes and opening of credit lines. LifeLock renders personal information useless to thieves, backing up its service with a million-dollar guarantee to completely fix any problems if a client is ever compromised. Located in a secure facility in Tempe, Arizona, LifeLock is a private company registered with Dun & Bradstreet, Verisign, ScanAlert HackerSafe, and the BBBOnline Reliability Program, and is a corporate sponsor of the National Crime Prevention Council.
About Bessemer Venture Partners Bessemer Venture Partners is the oldest venture capital practice in the United States, carrying on a tradition of hands-on, active investing that has continued since 1911. The firm manages two billion dollars of venture funds from offices in Silicon Valley, Boston, New York, Shanghai, and Mumbai. Over 100 Bessemer companies have gone public, including Blue Nile, Ciena, Gartner Group, Ingersoll Rand, International Paper, Maxim, Parametric, Perseptive Biosystems, Staples, VeriSign, Veritas and W.R. Grace.
with the most advanced Identity Theft Protection system available!