MarkMonitor, the leader in online corporate identity protection, today announced it has closed $12 million in venture capital investment led by Cargill Ventures.
This round of funding will be used to accelerate development of MarkMonitor's industry leading suite of solutions to protect corporations and their customers from online fraud and counterfeiting. Existing venture capital and institutional investors, Focus Ventures, Foundation Capital and Institutional Venture Partners, also participated in this round. In conjunction with the funding, Monica Morse, managing director at Cargill Ventures, will join MarkMonitor's board of directors.
"MarkMonitor's expertise, technology innovation, and market leadership uniquely positions the company to protect Global 2000 brands from increasingly sophisticated threats to their online corporate identities and intellectual property," said Monica Morse, managing director at Cargill Ventures. "The rapid adoption of MarkMonitor's current brand protection, channel monitoring and fraud prevention solutions demonstrate the market demand for online services that help to safeguard corporations from a range of virtual risks and threats."
MarkMonitor serves over 250 major corporations worldwide, including 41 of the global Fortune 100, and provides a comprehensive suite of corporate identity management solutions that gives clients a holistic view of fraudulent activities and vulnerabilities that impact their brand equity.
"As global brands are increasingly being hijacked to perpetrate cybercrimes, corporations need to implement end-to-end strategies that enable them to protect their brands, revenues and customers from a wide range of emerging online identity-based threats," said Mark Shull, CEO of MarkMonitor. "This funding will support continued innovation and global expansion, and will position the company ahead of the growing demand for online corporate identity management solutions."