From the Wires
People, Partners and Products Make 2012 a Watershed Year for 41st Parameter
Impressive Revenue Growth, International Expansion, New Venture Funding, Key Additions to Management Team and Industry Recognition Contributed to Outstanding Year
By: Marketwired .
Jan. 24, 2013 12:00 PM
SAN JOSE, CA -- (Marketwire) -- 01/24/13 -- 41st Parameter, the global leader in recognizing on-line users and safeguarding on-line transactions, has cemented its preeminent market position with an extremely successful 2012. Over the past 12 months, the company announced additional funding; doubled new orders year over year; expanded its footprint in Silicon Valley and abroad with new offices in Tokyo and Europe; and increased its headcount by more than 50 percent. Throughout the year the company was also recognized numerous times for its leadership role including most recently being named one of the 15 Most Important Security Startups of 2013.
"We enjoyed our strongest year ever in 2012," said Alan Naumann, 41st Parameter's chief executive officer. "We saw multiple advances, including hiring great employees, new strategic partners and technology breakthroughs across our product lines. 2012 started strong and ended even stronger. It puts the company in an excellent position as we move into 2013. We deeply appreciate the support and confidence our customers continue to place in us."
Early in 2012 the company announced Series D financing, with a new investor -- Georgian Partners and Itochu in Japan -- joining Kleiner Perkins Caufield Byers, Norwest Venture Partners and JAFCO Ventures. In addition to fueling ongoing research and development, this investment helped support 41st Parameter's international expansion in Europe and Japan, as well as its continued growth in Silicon Valley. 41st Parameter also increased the number of employees by 50 percent, including key additions to the management team -- Karen Dayan as VP of Corporate Marketing, James Lamberti as GM of AdTruth, 41st's Digital Media division, and Stephen Van Lare as VP of Engineering -- helping drive the company's continued commitment to innovation and expanding market presence.
In 2012 the company formed a strategic relationship with Elavon, a leading global payments provider. This relationship allows Elavon to pervasively bring 41st Parameter's fraud detection and prevention technology to the dynamic travel and e-commerce industries. Elavon selected 41st Parameter's FraudNet solution on the basis of its superior fraud detection results and extremely low false positive rates. This partnership reflects the industry-wide recognition of 41st Parameter's technical strength and is a perfect fit for millions of merchants who use Elavon payment solutions and want to grow CNP revenues while eliminating on-line fraud.
41st Parameter received a number of awards and industry accolades for the company's innovation and leadership in fraud detection and prevention. Notably, the company was recognized as a Leader in the Gartner Magic Quadrant for Web Fraud Detection. In addition, the company's SafeSession technology -- which protects against Man-in-the-Middle (MITM) and a variety of malware attacks -- was awarded a patent by the U.S. government and subsequently won the Merchant Risk Council's (MRC) 2012 MRC Emerging Technology Award (METAward). 41st Parameter was named "One of the Best Places to Work" in the Phoenix Business Journal. Most recently, the company was named as one of Business Insider's 15 Most Important Security Startups of 2013 -- an indication that the coming year will see innovation, growth and achievements from 41st Parameter.
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