The 41st Parameter Gets $11.2M

Scottsdale, Arizona-based The 41st Parameter, a developer of fraud detection and prevention technology, said today it has received $11.2M in venture capital funding from Kleiner Perkins Caufield & Byers. The Series B round also included participation by Norwest Venture Partners, its Series A investor. The 41st Parameter said that it will use the funding to expand its sales and marketin efforts, and to build out its core fraud detection and prevention platform. Ted Schlein of Kleiner also joins the company's board of directors. More information »