SOURCE: Silver Tail Systems

Silver Tail Systems

September 22, 2011 08:00 ET

Silver Tail Systems Receives Strategic Investment From Citi Ventures

Funding From Citigroup Unit Will Accelerate Silver Tail Systems' Revolutionary Approach Against Online Fraud and Cybercrime

MENLO PARK, CA--(Marketwire - Sep 22, 2011) - Silver Tail Systems, Inc., the leading provider of predictive analytics for detection and prevention of fraud and abuse for some of the world's leading websites, today announced that it has secured an additional round of funding from Citi Ventures. Citi Ventures is a unit of the global financial services company Citigroup. This investment is part of a previously announced Series B funding round in June led by Andreessen Horowitz.

"As people manage more and more aspects of their lives on digital and mobile platforms, cyber security is only going to become more important," said Deborah Hopkins, Citi's Chairman of Venture Capital Initiatives and Chief Innovation Officer. "Citi wants to help design and encourage the digital future of money, so supporting Silver Tail's break-through approach to security was an easy decision for us."

"Online fraud prevention is a necessity in today's web-based business environment," noted Timothy Eades, Chief Executive Officer at Silver Tail Systems. "Fraudsters have shifted their focus to attack the navigation layer of websites. Our unique approach is purpose built to use real time web session intelligence to protect the navigation layer from fraud. This investment from Citi Ventures will fuel our continued growth as we expand our research and development and scale to meet the increasing demand for our solutions."

"Citi's investment is further validation of the pioneering approach Silver Tail Systems is bringing to the market. We are happy to have Citi's investment to help advance Silver Tail Systems' technology leadership and market traction," said Scott Weiss, General Partner, Andreessen Horowitz.

Silver Tail Systems provides on-premise and Software-as-a-Service solutions to protect e-commerce, financial, government and Web 2.0 websites, as well as any other online properties that house critical information. The company currently monitors more than 750 million users and more than 1.8 billion web sessions per year across the world.

"The combination of Silver Tail Systems' unique technology, exceptional expertise and disciplined go-to market strategy for fraud prevention solutions has an incredible success rate," continued Hopkins. "We are pleased to invest in Silver Tail Systems and look forward to the continued expansion of this promising company."

About Silver Tail Systems, Inc.
Silver Tail Systems is the leading provider of predictive analytics for detection and prevention of fraud and abuse to some of the leading websites in the world. The company offers the industry's most comprehensive suite of fraud detection and mitigation solutions. Serving some of the world's largest financial institutions and e-commerce companies, Silver Tail Systems' award-winning solutions are made possible by the unmatched expertise of its management and technology teams, who bring deep experience, know-how and personal commitment to protect their customers' businesses against online fraud. For more information, visit Silver Tail Systems at www.silvertailsystems.com.

About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

About Citi Ventures
Headquartered in Palo Alto and Shanghai, Citi Ventures is a unit of global financial services company Citigroup. The Citi Ventures team partners with Citi businesses internally and with leading companies externally to identify, develop, and commercialize the highest new growth opportunities around the world that directly support Citi's emerging strategic directions.

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