The 41st Parameter Responds to Market Demand With Funding and Executive Team Expansion

SCOTTSDALE, Ariz., Aug. 7 /PRNewswire/ -- The 41st Parameter, the leader in online fraud detection and prevention solutions for eCommerce and financial services, today announced that it has closed a strategic round of funding and added important new executive positions in response to dramatic market growth signals and customer wins. The round of funding led by JAFCO Ventures (http://www.jafco.com/) with participation from Kleiner Perkins Caufield & Byers (http://www.kpcb.com/) and Norwest Venture Partners (http://www.nvp.com/) will fund important initiatives around new channels of distribution, enterprise solution development, sales and marketing.

The executive appointments of Tom Noyes, Sunil Padiyar, Tim Manning and Elazar Katz to its senior management team, also underscore the Company's commitment to providing enterprise-class solutions and services for an important new technology market dedicated to reducing online fraud. Noyes joins The 41st Parameter as General Manager of Financial Services, responsible for all aspects of growing the financial services business unit. Padiyar joins The 41st Parameter as Executive Vice President of Engineering, responsible for overseeing product management and engineering development. Manning joins the Company as Vice President of Marketing, responsible for leading strategy and execution for product, corporate and field marketing initiatives. Elazar Katz has assumed a new role as Vice President of Enterprise Strategies, Financial Services, focused on driving corporate strategy and satisfying customer needs.

"We are pleased to be in the unique position of delivering and defining next-generation solutions as a direct result of working with some of the largest banks and eCommerce retailers in the world," said Robert Lewis, Chief Executive Officer for The 41st Parameter. "Helping businesses grow their online channel while protecting customers is the essence of our business, and these appointments and this funding will be instrumental towards achieving our goals."

The appointments and funding correspond with the Company's momentum in eCommerce with recent wins including Abercrombie & Fitch and Overstock.com, adding to other tier one wins such as GSI Commerce. Financial Services is also showing considerable progress from new engagements with leading financial institutions.

"We are pleased to be a part of a world-class technology opportunity such as The 41st Parameter," said Tom Mawhinney, General Partner of JAFCO Ventures. "This decision is consistent with our strategy of funding global, emerging technologies sponsored by top-tier venture capital firms, and we are confident that we can help the team at The 41st Parameter grow and open new channels of international distribution."

"Tom, Sunil and Tim bring important new skill sets to our Company, and together with Elazar's expanded role, we have important new assets to advance our enterprise strategy and continue to grow the Company in response to new customer demand," said Ori Eisen, the Company's founder and Chief Innovation Officer. "Their collective expertise will ensure that we're delivering fraud detection and prevention solutions that help our clients increase revenue, provide a superior experience for online customers and grow their companies and brands."

About JAFCO Ventures

Based in Palo Alto, California, JAFCO Ventures is a venture capital partnership focused on companies that are emerging leaders in the communications, Internet, semiconductor and software industries. JAFCO Ventures was formed in 2003 and currently manages $300 million in capital. The fund's charter is to invest in venture opportunities with true breakout potential where JAFCO Ventures can meaningfully add value with capital, the experience of seasoned venture capital investors, and the deployment of our Asia business development team, to help portfolio companies generate revenue from customers in Japan and other parts of Asia. For more information, visit http://www.jafco.com/.

About The 41st Parameter

As the leader in online fraud detection and prevention solutions, The 41st Parameter is instrumental in reducing fraud online for eCommerce and financial institutions through highly accurate anti-fraud capabilities. By continuously collecting new and unique parameters from end-user computers during online account access or order processing, the Company's patent-pending technologies enable forensic identification of PCs and online devices. Such accurate client device identification is proven to prevent online fraud while improving operational efficiencies, saving time, money and protecting legitimate customers. None of the Company's solutions require end-user registration, enrollment, downloads or installations. To find out how the Company is making fraud history, visit http://www.the41.com/ or call 1.888.the.41st (1.888.843.4178).

  Contact:
  Tim Manning
  tmanning@the41.com
  (480) 776-5519