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Venture Capital News: Fyde Emerges From Stealth With $3M

PALO ALTO, CA, Fyde, a cybersecurity company focused on phishing attacks on mobile devices, has emerged from stealth and announced it has raised $3 million in seed-stage funding.
Fyde, creator of the platform for securing the modern device-driven life, today announced the official launch of its free Apple iOS app. The Fyde app intercepts phishing, smishing, vishing or online account takeover attacks on mobile devices in real-time, neutralizing threats. Fyde uses machine learning techniques combined with human analysis to differentiate between authentic and risky links and messages, protecting consumers across all platforms, including iCloud, social media and online banking.

Research has shown that phishing attacks are on the rise. According to Anti-Phishing Working Group's "Phishing Activity Trends Report, 1st Half 2017," there were 291,096 unique phishing attacks reported worldwide in the first half of 2017. These attacks occurred on 108,680 unique domains targeting 640 brands and reaching 12.4 million potential victims. Fyde combats this issue by providing consumers with automatic blocking, instant alerts or actionable advice when a questionable site is identified.

"The human factor continues to be the largest unsolved problem within cybersecurity," said founder and CEO, Sinan Eren. "While some companies are focusing on legacy threats such as malware and ransomware, we're zeroing in on the target that will dominate the next decadeŠ -- Šwetware. To combat this, we've designed a mobile platform that will serve as the first line of defense against human-centric attacks, such as phishing."

Fyde delivers superior protection without hampering user experience. Unlike previous solutions, Fyde provides simple onboarding and seamless operation, without adding network latency or draining the device battery. This is accomplished while maintaining complete user and data privacy.

To provide crowd-sourced immunity, community members may choose to share their attack telemetry anonymously with Fyde. Except for this opt-in sharing, the app only communicates with Fyde cloud servers when it classifies a site as borderline malicious. Anonymized information is sent to Fyde's servers for more advanced machine learning analysis. Over time, new attack vectors gleaned from individual users become integrated into the Fyde knowledge base for the benefit of the entire user community.

"Cybersecurity for the human factor is overdue for a disruption," said Rio Maeda, managing director, Draper Nexus. "Fyde is at the forefront of this revolution with its machine-driven, human-enriched approach that allows it to uniquely address phishing attacks on consumer mobile devices. They have successfully eliminated the reliance on consumer judgment to prevent phishing and account takeover attacks."

Fyde offers additional features such as banking session protection, text/voice protection and breach reports to cover the full spectrum of mobile risk factors. With session protection, Fyde scans the device and the network to ensure the session is safe and secure. Text/voice protection filters fraudulent text messages and phone numbers to thwart unwanted and abusive senders. Breach reports offer an additional layer of protection by which users are alerted to a breach of a frequented app or website on their mobile deviceŠ -- Ševen if the breach happened months ago.

Fyde raised a $3 million round in seed funding led by Draper Nexus and Vertex Ventures. The company is also signing partners in the banking and payments industries to deliver Fyde as part of their customer security portfolio.

Fyde is currently available on Apple iOS, with an Android version scheduled for release later this year.

For more information and to get the Fyde app, please visit

About Fyde
Founded by cybersecurity, mobile development and information security research experts, Fyde is a first-of-its-kind service that helps consumers protect their digital assets by stopping phishing attacks on mobile devices in real-time.

Fyde is a privately held company based in Palo Alto, California, with an additional office in Porto, Portugal.

For more information about Fyde, please visit
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