Goldman Sachs just gave a gigantic vote ($25 million worth ) of confidence for the company that insures its wide customer base from credit fraud and identity theft. The three-year-old, Tempe, Arizona-based company has already raised $6 million Series A round led by Bessemer. That was before the $6.85 million round led by Kleiner Perkins.
Lifelock is a successful consumer web story first because it’s a great product, but more importantly, the team always ‘got’ marketing. They took a webby idea and took it off web to sell it. It boggles my mind how many people are aware of the ad campaigns, where CEO Todd Davis gives away his social security number (457-55-5462, in case you were wondering) as further testimony to the flawlessness of their service.
The Company is continually perfecting and adding to their services. Now, they even guarantee the safety of your wallet with WalletLock. Lose your wallet? Not a worry. One of their WalletLock specialists will contact each credit card, bank or document issuing company, cancel your accounts and complete the paperwork and any further hassles for you. Even replacing your goods, including credit / debit cards, driver’s license, social security, etc…even traveler’s checks. No charge.
In case you haven’t caught it in my previous posts, I am an angel investor and participated in the Kleiner Perkins round with our Knighstbridge fund. This is also great news for venture and start-ups in Phoenix.
If they keep this up I will be a thousandairre in no time. If it proves one thing it’s that if you stay in the game and keep swinging the bat, you might hit one out of the park. Still a long way to go before I can call it a winner, but it feels good just the same.
wtg Howard. Since GS is never wrong, I’d say you’re on to something ;)
Congrats.
My tombstone will cost more than 25 million.
congrats on the deal. Lifelock operates in fast growing area that is becoming increasingly important.
I have a suggestion for you. Why don’t you start giving away one free subscription to its service once a month. In order to participate in the contest, everyone has to explain why he/she needs to use the Lifelock’s service. This will lead to a significant boost in the paid subscriptions.
LifeLock Sucks. I cant believe any one would use that service. I know you were involved but come on. If people were not so lazy they can do the exact same thing for themselves in less than 10 inutes per year. Get your free credit reports every year review them and put the security alerts on your credit and you save $10/month – so your choices are $10/ month or free and take 10 minutes per year.
Seems like they are a great marketing machine – might be a good investment because I don’t think a lot of people realize you can stop your junk mail for free, put a credit freeze on your account for 7 years for free, and lift it for a set period of time for a one time fee of $10 if you need to.
brian – thanks – thats what makes markets.
I think you miss the point. ou sure can do it yourself. You can clean your own house as well and buy a safe to put in your wall or under your floor.
Still a good idea to have the guarantee behind it ($1,milllion to help pay clean up a mess) for when the thieves get you anyway. Thats the point. You can’t stop the thieves no matter how hard the good guys try.
This is a smart product, packaged well.
I guess life insurance is stupid too and sucks. I wish I owned one of those sucky businesses as well.
I have to agree with Howard. Its a valuable service and people have to realize that your identity is not safe no matter what you do and having identity theft insurance in place is a must in todays world. Trust me there is no full proof protection though fraud alerts are the best protection.