Memcyco, a Tel Aviv, Israel-based real-time website impersonation detection and prevention solution, has successfully completed a $10 million seed funding round led by Capri Ventures and Venture Guides.
The funds will support Memcyco's efforts to further develop and expand its technology to combat website impersonation and protect brands and users.
The company offers an agentless Proof of Source Authenticity (PoSA™) technology that delivers zero-day protection and real-time detection, helping to identify attacks at the point of impact.
PoSA™ provides the brands with full details of the attempted attack session to ensure complete visibility and uses artificial intelligence to study behavioral patterns in order to identify and alert organizations when irregular activity occurs. PoSA™ also includes a digital watermark displayed on the brand’s actual website that reassures customers of the website’s authenticity.
Memcyco is minimizing the cost of damages to both brands and their customers, reducing user education efforts, and decreasing the snowball effect that prevents users fr
“At Memcyco, we have introduced a new paradigm for preventing website impersonation by providing multiple layers of protection for companies and their customers,” said Israel Mazin, CEO and co-founder of Memcyco. “This investment from such experienced leaders in cyber security delivers a strong vote of confidence in Memcyco’s ability to deliver a more secure and trustworthy digital ecosystem.”
Company: MEMCYCO Ltd.
Round: Seed Round
Funding Month: May 2023
Lead Investors: Capri Ventures and Venture Guides
Company Website: https://www.memcyco.com/
Software Category: Brand Protection Software Solutions
About the Company: Memcyco was founded to create a world in which users can confidently interact with businesses online and scammers are deterred from impersonating brands. Memcyco is a provider of cutting-edge digital trust technologies to empower brands in combating online brand impersonation fraud and preventing fraud damages to businesses and their clients. Its real-time digital brandjacking protection solution helps brands counter impersonation fraud and its associated damage to businesses and their customers. Memcyco is trusted by leaders in financial services, eCommerce, and other industries.
Source: Avi Krupman, Account Manager-InboundJunction