Lifelock Gets Venture Funding – from Bessemer – sweet.

Posted by Howard
on November 12th, 2006

Lifelock , one of my angel investments, closed on approximately $4.5 million in venture funding from Bessemer Venture Partners . Bessemer has a great website and has had just a few winners (Skype and Verisign) :) .

I am happy for everybody involved. This was a deal that I almost passed on 20 times. I could not get a good reading from a lot of my trusted friends and sources who reviewed it with me, but I am glad I took the opportunity. Identity Theft is not a trend that is going to fade anytime soon. From my reading of the growth statistics in identity theft, it seems like a “when”, not “if” problem.

Robert and Todd have allowed me to set up a discount code for signing up at Lifelock . Just use the code “The Blogging Times ” to get a nice discount.

Robert Maynard and Todd Davis, the founders, have worked smart and created a great business that has a great positive cash flow model and has grown very fast from practically the beginning. Although it is considered an internet company, even an internet security company, Todd and Robert have used the traditional models of PR and marketing to get the sales in high gear. They just get it. They have been great in letting me explore some creative ways to get the web marketing and affiliate programs underway. There is some great stuff in the pipeline.

It is also another great example of smart entrepreneurs and growing internet deal flow in the Valley of the Sun (Phoenix).

It looks like Alarm Clock broke the story on October 31st. I was under a muzzle order as usual :) .

Alarm Clock had a nice review of our Wallstrip, so they must be smart and hard working :) .

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