PALO ALTO, CA--(Marketwired - Oct 1, 2013) - Norwest Venture Partners (NVP) today announced that Experian, the leading global information services company, has signed a definitive agreement to acquire 41st Parameter, the market leader in device identification technology for web fraud detection. On the heels of the recent FireEye, Inc. (
"Security is one of the most critical industries for innovation in today's world. At NVP, we prioritized security early on as a key investment sector given the evolving threat landscape and number of security breaches large corporations are experiencing," said Promod Haque, senior managing partner, NVP. "Today, as attacks become more frequent and ever more sophisticated, the market is now recognizing the need for these technologies. This acquisition of 41st Parameter and the recent FireEye IPO are just two liquidity events that underscore the ramp and potential of today's security market."
With the sale of 41st Parameter, seven of NVP's portfolio companies have achieved exit success in 2013, including three IPOs in the past five months -- FireEye (
41st Parameter's industry-leading solutions have been adopted by the world's leading financial institutions, eCommerce merchants and online travel businesses. The company's patented device identification technology strengthens Experian's global web fraud detection and identity authentication capabilities.
"In today's digital world, organizations need to recognize the devices used by their customers in order to provide a safe and effective experience," said Alan Naumann, President and CEO of 41st Parameter. "I am excited that by combining our team with Experian we can together deliver very unique and effective solutions to our mutual clients around the world."
Naumann continued, "NVP has been a trusted partner to 41st Parameter from the start. The firm was there from day one as the sole investor in our Series A round, and it also participated in and supported the company in every subsequent round of funding. NVP's operational experience, ability to add value and its overall track record in the security sector have been critical to our company's growth and accomplishments."
"The visionary leadership of Ori Eisen and Alan Naumann were instrumental to 41st Parameter's success," said Venkat Mohan, operating partner, NVP. "Alan built a fantastic team that has delivered on key technology and sales milestones throughout the various stages of the company's growth. We're extremely proud of what the company has achieved since we first met 41st Parameter and invested in the Series A round."
To view Experian's press releases, please visit: http://otp.investis.com/clients/uk/experian/rns/regulatory-story.aspx?cid=239&newsid=367841
About 41st Parameter
In a world where people are increasingly reliant on a variety of Internet-connected devices for everything from banking to shopping to entertainment and media, creating relevant customer experiences and preventing online fraud are constant business challenges. 41st Parameter, the global leader in device recognition and intelligence, combines patented technologies and years of expertise to identify devices without cookies, without compromising privacy and without impacting performance. The company's FraudNet platform protects businesses from online fraud before it happens. The TrustInsight™ Network enables online merchants to increase sales by approving more trusted transactions. These privacy compliant solutions help keep the Internet more secure and relevant for everyone.
About Norwest Venture Partners
Norwest Venture Partners (NVP) is a leading venture and growth equity investment firm that has partnered with entrepreneurs to build great businesses for more than 50 years. The firm manages over $3.7 billion in capital and has funded more than 500 companies since inception. Headquartered in Palo Alto, Calif., NVP has subsidiaries in Mumbai and Bengaluru, India and Herzelia, Israel. NVP makes early- to late-stage venture and growth equity investments across a wide range of sectors including: technology, information services, business services, financial services, consumer products/services and healthcare. For more information visit: www.nvp.com.