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The 41st Parameter Secures Funding, Adds to Staff

The 41st Parameter, a developer of online fraud detection and prevention software, announced Tuesday that it has concluded a round of venture financing and expanded its executive staff. Though the Scottsdale, Arizona-based company declined to specify the amount received, it said the funds will go toward sales and marketing and developing new distribution channels and enterprise solutions. The 41st Parameter added that JAFCO Ventures led the effort. Kleiner Perkins Caulfield & Byers and Northwest Venture Partners also participated, The 41st Parameter said. Additionally, the company reported that Tom Noyes, Sunil Padiyar, Tim Manning and Elazar Katz have joined the company's management team. Noyes will serve as general manager of financial services, Padiyar will act as executive vice president of engineering, Manning will be vice president of marketing, and Katz will fill the newly created position of vice president of enterprise strategies, financial services. More information »