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Memcyco Raises $10 Million in Seed Funding to Prevent Website Impersonation

Researcher by Researcher
May 26, 2023
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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.

Related: European Cybersecurity Firm Sekoia.io Raises $37.5 Million

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Related: SquareX Raises $6 Million for Browser Security Product

Related: Webb Raises $7 Million for Blockchain Asset Transfer Privacy System

Related: Aadya Raises $5 Million for SMB-Focused Security Platform



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