Posts Tagged ‘Tom Ilube’
London – 23rd April, 2009. Garlik, the online identity experts, have secured $2.4m (£1.6m) in Series C funding from leading venture capital firms 3i and Doughty Hanson Technology Ventures, both existing investors in the firm. Garlik’s management team and existing angel investors have also contributed to this latest round of funding.
With last year’s 33% leap in cybercrime activity*, as well as thousands of credit card, financial and login details being sold illegally for as little as 40p*, protecting identities has never been more important. “Garlik offers a real solution to this exponential growth in cybercrime,” commented Nigel Grierson Managing Director of Doughty Hanson Technology Ventures, who has backed Garlik since 2006. “With Garlik we are investing in a rapidly growing business that really helps people to protect their critical personal and financial information in the digital world.”
Since 2006, Garlik has established itself as the leading online identity experts with its DataPatrol solution, generating revenue growth of more than 300% per annum. The company has demonstrated that a combination of innovative semantic web technology and a strong revenue-generating business model is still attractive to investors, despite the current economic climate.
“The recession is fueling a worldwide explosion in cybercrime,” added Tom Ilube, CEO of Garlik. “This new round of funding means that we can rapidly expand our relationships with leading banks, insurance companies, internet service providers and online retailers worldwide, enabling them to offer our award-winning protection services to their customers and help to protect them from the growing menace of financial fraud and identity theft.”
For more information please visit www.garlik.com
Source: The Internet Crime Complaint Center, 2008 Annual Report, www.ic3.gov and Annual Symantec Internet Security Threat Report, April 2009, http://www.symantec.com/business/theme.jsp?themeid=threatreport
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About Doughty Hanson Technology Ventures
Doughty Hanson Technology Ventures aims to help talented entrepreneurs in Europe to build world-class technology companies.
Founded in 2000, Doughty Hanson Technology Ventures is an early-stage, venture capital fund with $272 million under management. Operating from London, Munich, and San Francisco, the Fund is independently managed by a dedicated team of professionals with substantial personal experience in the technology and financial sectors. The fund focuses on emerging technology sectors in the areas of internet, mobile, software, hardware and clean technology.
Having established a long track record of successful venture capital investments in Europe and the United States, the team relies on its experience, personal networks and the resources of Doughty Hanson & Co, one of Europe’s largest independent private equity firms, to help identify and grow investment opportunities.
3i is an international leader in private equity. We focus on Buyouts, Growth Capital, Infrastructure and Quoted Private Equity (“QPE”) and invest across Europe, North America and Asia. Our competitive advantage comes from our international network and the strength and breadth of our business relationships. These underpin the value that we deliver to our portfolio, to our shareholders and to our fund investors.
Garlik, the online identity expert, was founded by Mike Harris, founding CEO of Egg plc, former Egg CIO Tom Ilube and former British Computer Society president Professor Nigel Shadbolt. As the first company to develop a web-scale commercial application of semantic technology, Garlik enables consumers to find and understand what personal information is in the public domain about them and manage how their identities appear online.
Garlik has appointed a panel of world-class ID protection and technology experts to advise the business including Professor Dame Wendy Hall DBE from the University of Southampton, Sir Tim Berners-Lee, the inventor of the Web, Simon Davies, director of Privacy International and Daniel Cooper, renowned privacy lawyer with Covington & Burling. In January 2008, Garlik was selected as a World Economic Forum, Davos, Technology Pioneer and in December 2008 it won the British Computer Society BT Flagship for Innovation Award.
Garlik is backed by three of the UK’s leading blue chip investment firms, 3i, Doughty Hanson and Noble Venture Finance.
For further information please contact:
Victoria Melville or Duncan Gurney
+44 (0)1483 489009/07974 161 123
For Doughty Hanson Technology Ventures:
Annabel O’Connor, Capital MS&L, +44 (0)20 7307 5339
Rachel Richards, PR Manager, +44 (0)20 7975 3573
As the former Chief Information Officer of Europe’s largest internet bank, Egg plc, the decision to select semantic technologies to underpin the launch of my next large scale consumer business, Garlik (www.garlik.com), was not one I took lightly.