SAN FRANCISCO--(BUSINESS WIRE)--Arkose Labs, the platform that bankrupts the business model of fraud and abuse, today announced record business growth in 2019 and the appointment of new top talent in the fraud and abuse prevention space to boost global operations.
Notable new hires include Lance Jacobs as VP of Sales, and Sam Francis as Chief Financial Officer. Jacobs’ operating experience spans over two decades and includes sales leadership roles at several start-ups and public companies. Most recently, Jacobs led enterprise sales at Akamai Technologies, responsible for the sales and adoption of their zero-trust cloud security services targeting Fortune 1000 customers. Francis brings more than 25 years of experience providing financial leadership, raising capital and managing both buy-side and sell-side M&A transactions to Arkose Labs.
“We are building an extraordinary global team with specialized experience and demonstrable success in the fraud prevention and abuse space,” said Kevin Gosschalk, CEO of Arkose Labs. “The addition of Sam and Lance will help strategically advance our global footprint, meet the growing demand for our product and deliver on our mission to bankrupt the business model of fraud.”
The appointment of Jacobs and Francis comes during a period of rapid growth for the company. Arkose Labs increased headcount 40% overall in 2019, and recently announced fraud expert Vanita Pandey as VP of Marketing in July and the addition of former president and CEO of ThreatMetrix, Reed Taussig, to its Board of Directors in May.
Arkose Labs’ strong company growth and market traction is demonstrated by several notable achievements in 2019.
Record Sales Growth Powered by Industry Demand
Arkose Labs increased sales 300% year-to-date in 2019, doubling its customer base to include many Fortune 50 companies in the Financial Services, eCommerce, Media, Gaming and emerging technology sectors.
As a result, traffic on the Arkose Labs platform is also steadily growing from both new and existing customers. On average, Arkose Labs’ customers increased usage by five times in 2019 due to the success of the solution in protecting against automated and human-driven fraud attacks, which are being fueled by a spike in global data breaches.
“While companies worldwide are in a frantic race to stay ahead of the fraud curve, we are proving that our innovative approach to fraud prevention works – saving our customers more than $100 million in potential fraud losses this year alone,” said Gosschalk. “Each successful attack gives fraudsters a new playbook to replicate across companies, industries and regions until businesses find a way to prevent it. Arkose Labs is stopping the fraud epidemic and our significant growth is attributed to the long-term success of our technology.”
More Than 360 Million Fraud Attacks Prevented in 2019
The Arkose Labs platform has detected and prevented more than 360 million fraud attacks spanning Jan. 1, 2019 to Sept. 30, 2019.
“We work with some of the world’s biggest brands to protect their digital customer journey. Our unique approach of bankrupting the business model of fraud is resonating with our customers and delivering long-term success in today’s volatile fraud landscape,” said Gosschalk. “The global connected cybercrime ecosystem is fueling demand for our technology and 2019 has been a banner year for Arkose Labs.”
Attracting Prominent Industry Partners
Arkose Labs announced several key partnerships in 2019, including an exclusive private bug bounty program with Bugcrowd, the #1 crowdsourced security platform, for more robust security testing. Arkose Labs also partnered with Okta, the leading independent provider of identity for the enterprise, to allow joint customers to leverage the Arkose Labs system to eliminate account takeover attacks, fake user registrations and other types of fraud and application abuse.
Notable Industry Recognition
Arkose Labs’ company momentum is reflected by industry recognition and awards. In September, Arkose Labs Founder and CEO Kevin Gosschalk was named a winner in the third-annual SC Media Reboot Leadership Awards, earning the distinction in the Innovators category. Additionally, Arkose Labs was named winner of the 2019 MRC Technology Awards in the Start-Up category by the Merchant Risk Council, recognized as a SINET 16 Innovator and a finalist in the RSA® Conference 2019 Innovation Sandbox Contest. Arkose Labs’ VP of Marketing, Vanita Pandey, and Senior Producer, Hedda Peters, were recognized as female leaders in the fraud and abuse prevention space, winning “Women in Cybersecurity” awards from Cyber Defense Magazine.
To learn more about Arkose Labs and its Fraud and Abuse Defense Platform, visit www.arkoselabs.com.
About Arkose Labs
Arkose Labs bankrupts the business model of fraud. Its patented platform combines telemetry with an adaptive step-up challenge. Telemetry accurately identifies bad actors, while the adaptive step-up wears them down and diminishes their ROI without adding friction for customers. The world’s largest brands trust Arkose Labs to protect their customer journey while delivering an unrivaled customer experience. Arkose Labs is based in San Francisco, Calif., with offices in Brisbane, Australia. For more information, visit www.arkoselabs.com or on Twitter @ArkoseLabs.