Image Credits:<\/strong> Memcyco<\/p>\n<\/div>\n

\u201cBetween all of us founders, there are many years of experience of building startups from scratch to worldwide companies \u2014 private funding, public funding, partnership with strategic partners like IBM and others,\u201d Mazin noted. \u201cOur background is very important and now we mix our knowledge and our long experience with very young people that came from [the Israel Defense Force\u2019s elite cybersecurity unit] 8200 and other units from the IDF.\u201d<\/p>\n

Most of the brands that adopt Memcyco\u2019s solution start with its monitoring tools that allow them to discover potential brandjacking and phishing attempts. The team didn\u2019t want to go into too many details with regard to how their service works on a technical level, but Hazam stressed that the company is taking a very proactive stance here. \u201cWe developed \u2014 and continue to develop \u2014 an AI algorithm that we can use to search for and find the scam before there is an attack,\u201d Hazam said. \u201cWe can find them and start following after them to see if there is something that could be suspicious.\u201d<\/p>\n

For brands, getting started with Memcyco involves adding a few lines of code to their websites. Most start with the company\u2019s back-end security tools, with the digital watermark being the \u201ccherry on top,\u201d as Hazam described it.<\/p>\n

\u201cEveryone knows someone who has fallen victim to a phishing-based brandjacking scam,\u201d said Alex Pinchev, founder and managing partner at Capri Ventures. \u201cMemcyco<\/span> is the first company to provide a real-time solution to that problem while existing approaches are mostly after-the-fact and leave organizations not knowing which users fell victim to the attack.\u201d<\/p>\n

Memcyco\u2019s solution is already in use by several large e-commerce sites and financial institutions. The team intends to use the new funding to enhance the product, support existing customers and expand its go-to-market organization.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n