Memcyco Raises $10M To Deliver Real-Time Brandjacking Protection
Summary
The companys solution increases customer digital trust, improves brand reputation, and reduces financial impactTEL AVIV, Israel, May 24, 2023 Memcyco, the real-time website impersonation detection and prevention solution, has completed a $10 million seed round led by Capri Ventures and Venture Guides.Brandjacking is among the most common forms of cyberattacks globally. Website impersonation (also known as brandjacking) draws users to fraudulent copies of a brands website to trick them into revealing personal and financial account information used to steal their identities and funds.Memcyco counters these assaults with an agentless Proof of Source Authenticity (PoSA) technology that delivers Zero Day protection and real-time detection, helping to identify the attacks at the point of impact. This cultivates a secure environment and affinity for the brands customers, promoting digital trust.Memcyco is minimizing the cost of damages to both brands and their customers, reducing user education efforts, decreasing the snowball effect that prevents users from interacting with digital properties, and boosting brand reputation and trust among end users.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. added Ben Nye, Managing Partner at Venture Guides.Memcyco was founded to create a world in which users can confidently interact with businesses online, and scammers are deterred from impersonating brands. Its real-time digital brandjacking protection solution helps brands counter impersonation fraud and its associated damage to businesses and their customers.