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The 41st Parameter Expands Management Team and Reports Record Growth
Company achieves significant milestones in past year; increases market share in financial services and e-commerce
Scottsdale, Ariz. – February 29, 2008 –The 41st Parameter, the leading provider of Internet Fraud Management solutions, today announced two additions to its management teams and reported another year of record growth. Technology industry veteran Anne Wolf has been named Chief Marketing Officer, and former McAfee EVP Parveen Jain, Ph.D., has been appointed to the company’s Board of Directors.
“The management team appointments are well timed, as The 41st Parameter is experiencing significant growth in the online banking and e-commerce industries,” said Ted Schlein, general partner at Kleiner Perkins Caufield and Byers, and member of The 41st Parameter’s Board of Directors. “Having won several Fortune 500 customers in 2007, Anne Wolf and Parveen Jain will help the company capitalize on this momentum and drive future growth in the coming years. They both have outstanding records of entrepreneurship and positioning early-stage ventures for maximum success.”
Anne Wolf brings more than two decades of technology industry experience at companies including Apple and Unisys. During her nine-year tenure with Apple, she led the marketing efforts of the education practice that grew to over $2.3 billion, including the launch of a $350 million software business. In addition, Ms. Wolf was a founding member of the senior management team of the world’s first personal shopping web site, MyGeek.com. She also served as Senior Vice President of Marketing at Mastering Computers, a training software company, where she oversaw all marketing functions. Ms. Wolf also created and executed a corporate development plan which was instrumental in the company’s $225 million acquisition by Platinum Technologies.
Dr. Jain is one of the foremost security technology executives in the Silicon Valley, and is the Chairman of JovianData. Prior to JovianData, Dr. Jain was Executive Vice President of Corporate Development, Strategy and Business Development at McAfee, where he was responsible for the company’s entire growth strategy. Before McAfee, Dr. Jain was founder and CEO of IntruVert Networks, which was acquired by McAfee in 2003. In addition, he spent 20-plus years in entrepreneurial and top-executive roles at companies in industries including power and processing, artificial intelligence, software, telecommunications and networking.
A Year of Success for The 41st Parameter
Over the past year, The 41st Parameter achieved many significant milestones, as demand for its Internet Fraud Management solutions increased dramatically. The company added seven of the top 10 U.S. banks to its customer list, as well as several major online merchants (listed here). To prepare for future growth, The 41st Parameter also established its international presence with offices in London, U.K., and Hyderabad, India. Other notable highlights include:
- Received three industry awards -- Rookie Security Company of 2007 by SC Magazine, the FutureNow Top 25 Security Technologies of 2007 List of Bank Technology News, and the 2007 AlwaysOn 100 Outstanding Private Companies list.
- Ori Eisen, Founder and Chief Innovation Officer, was named to the Merchant Risk Council Board.
- Released four new major versions of software in its Internet Fraud Management portfolio.
- The 41st Parameter was featured in two Gartner reports as a key Internet Fraud Management solution provider.
- The company relocated and expanded its headquarters in Scottsdale, and increased its employee ranks by 65%.
“We are very pleased with the many milestones we achieved over the past year, and are appreciative of our partners and customers in the global fraud prevention ecosystem who have entrusted us to provide solutions to reduce their tangible and intangible fraud losses,” said Bob Lewis, CEO of The 41st Parameter. “As we move forward, we will continue to focus on delivering more agile and statistically proven solutions to help companies achieve their fraud prevention goals.”
About The 41st Parameter
As a leader in online fraud detection and prevention solutions, The 41st Parameter is instrumental in reducing online fraud for e-commerce 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 41st Parameter’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 41st Parameter is making fraud history, visit www.the41.com or call 1.888.The.41st (1.888.843.4178).
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