Website impersonation detection and prevention company Memcyco on Wednesday announced that it has raised $10 million in a seed funding round led by Capri Ventures and Venture Guides.
Founded in 2021, the Tel Aviv, Israel-based company provides an authenticity platform that keeps organizations and their users safe from phishing attacks.
Also referred to as brandjacking, website impersonation involves directing users to fraudulent copies of a website to trick them into revealing their financial and personal information.
Memcyco’s proof of source authenticity (PoSA) solution relies on artificial intelligence to analyze behavioral patterns and deliver real-time detection capabilities. In addition to providing brands with details on identified attacks, it warns users to keep them protected.
To reassure users of a site’s authenticity, PoSA includes a digital watermark that visitors can customize with their own secret, to make it impossible to forge. The solution increases customer digital trust and improves brand reputation.
“We have introduced a new paradigm for preventing website impersonation by providing multiple layers of protection for companies and their customers. This investment delivers a strong vote of confidence in Memcyco’s ability to deliver a more secure and trustworthy digital ecosystem,” said Memcyco CEO and co-founder Israel Mazin.
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