Cyota Fuels Worldwide Growth with $7.25M Capital Investment

Monday 27 December 2004 21:06 CET | News

Cyota has closed a $7.25 million round of private financing led by Bessemer Venture Partners, a leading private venture capital firm that carries on one of the longest-standing venture capital activities in the country.

Cyota will use the funding to accelerate its growth, and develop new products and technologies to fit financial institutions anti-fraud and security needs. Cyotas array of anti-fraud services, including its anti-phishing service, and payment security platform, are currently in use by 8 of the worlds top 12 banks. Banks, merchants, and consumers increasingly fear that phishing and other types of online fraud pose an existential threat to online banking and commerce. Bessemer Venture Partners and its team bring years of business and security expertise to Cyota, with general partners such as David Cowan, co-founder of Verisign. Mr. Cowan will join as a member of Cyotas Board of Directors.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce