SAN FRANCISCO / PHOENIX -- (Nov. 20, 2006) – The Shemano Group today announced that the Firm’s investment banking client, LifeLock, the industry leader in the prevention of identity theft, has received $6 million in financing from Bessemer Venture Partners, one of the world’s leading venture capital firms.
As LifeLock’s investment banking firm, The Shemano Group arranged for the initial angel investment round of financing. Shemano’s recently-opened Phoenix affiliate was retained by LifeLock early in 2006 as financial advisor for the rapidly growing company.
“It has been an extraordinary opportunity to represent the industry leader in identity theft, with a world class management team, during a very critical time as the company needs to expand in response to consumer need,” said Jim Liebes, senior managing partner, The Shemano Group. “We believe LifeLock’s outstanding services will definitely reduce identity theft, which currently affects over 10 million victims a year.”
Since the initial angel investment, The Shemano Group has been involved in capital raising endeavors, developing the financing structure, identifying various strategic investors and vetting the eventual agreement for LifeLock. The search for financing concluded with the Bessemer Ventures financing to LifeLock, with Bessemer now assuming the role of lead investor. The Shemano Group will continue to serve as investment banker and financial advisor to the identity theft prevention company.
“Our goal is to direct LifeLock, with its outstanding management team, in finding the most appropriate investors, and the investment capital it needs to succeed as they expand,” said Gary Shemano, chairman and CEO of The Shemano Group. “Identity theft is the fastest growing crime in the United States, and there is a huge need for the theft prevention services offered by LifeLock. We are looking forward to seeing great things from this company.”
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 personal information credentials is increasingly compromised through the The Shemano Group Announces Successful First Round Financing for LifeLock Page 2 mail, medical records, and the Internet. The company offers an affordable, pro-active service for guaranteed ID theft prevention, which has already attracted the interest of numerous colleges and universities, professional associations, credit unions and individual customers.
“The Shemano Group has played a vital role in our success to date,” said Todd Davis, CEO of LifeLock. “Additionally, through its new Phoenix office, the firm is bringing world-class investment banking and venture funding capabilities to the strengthening business climate here in Arizona.”
About LifeLock As the country’s first ID Theft Prevention Company, LifeLock maintains active fraud alerts with the three major credit bureaus, as well as ChexSystems. LifeLock gives its customers control over their own information, giving them the ability to authorize every potentially risky transaction, such as address changes and the opening of credit lines. LifeLock renders personal information useless to thieves, backing up its service with a $1 million guarantee to completely resolve any identity theft problems. Located in a secure facility in Tempe, Ariz., 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. More information can be found at www.lifelock.com.
About The Shemano Group The Shemano Group, Inc., founded in 1994, is a privately-owned boutique investment banking firm headquartered in San Francisco. The firm provides full-service investment banking solutions to growth companies in various industries. Noted for its specialty in Institutional Private Placements (PIPEs), The Shemano Group’s other investment banking services include: Initial Public Offerings and Follow-ons; Market Making / Block Trading; Restricted Stock Services; Merger and Acquisitions and Financial Advisory; Private Equity, Debt, and Mezzanine Financing; and, Corporate Consulting. For more information about The Shemano Group, member NASD/SIPC, call (800) 316- 9901 or visit www.shemano.com.
with the most advanced Identity Theft Protection system available!