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eMediaWorld.com: US venture capital firm 21Ventures announces seed
investment in in Israeli anti-cheat software company CogniSafe Ltd. -
Anti-cheat software provider for online-games
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:03102008
New York, NY and Tel-Aviv, Israel -- 21Ventures, a U.S. based venture
capital firm, announced today a seed investment in CogniSafe Ltd. - an
Israeli company providing real-time anti-cheat software solution for
online games.
The funding is earmarked for sales and marketing and ongoing product
development.
"CogniSafe brings an exciting new approach to solve the cheating
problem in online games, a problem which causes significant losses to
gaming companies and harms the players ability to enjoy the challenge
and adventure of a cheat-free game environment. Just like online
banking and commerce services, the online gaming industry is vulnerable
to fraud and cheating, but no real time solution has been presented so
far to solve the cheating problem. We believe that CogniSafe solution
will become the standard in detection and prevention of cheating in
online games and we are happy to be among the first to identify
CogniSafe potential" said David Anthony, Managing Partner of 21Ventures.
The cheating problem in online games causes game providers to remove
tens of thousands of paying players every month, due to suspected
cheating. The removal is usually done following a complaint from other
players, or after a post mortem analysis of player's actions. In
addition a significant number of legitimate players abandon some game
titles, and cease paying, when they feel they have been cheated.
CogniSafe's solution enables online game providers to detect, in real
time, any deviation from proper gaming procedures by the online
players, and remove cheaters from participation in the game, thus makes
cheating attempts futile and enables other players to continue and
enjoy a cheat-free gaming experience.
"There is a clear need in the market for a real-time solution that will
enable the gaming companies to really understand the magnitude of the
cheating phenomena, gather evidence against cheaters, and remove them
from the game before they affect the gaming experience for other
players ", said Izik Shimon, CEO of CogniSafe. Izik continues "We are
already engaged with several leaders in the online gaming industry,
which understand the potential of increasing the integrity of their
games and avoiding significant losses, by working with CogniSafe".
About 21Ventures Founded in 2004 and headquartered in New York,
21Ventures is a venture capital fund which invests in seed, early stage
and PIPE (Private Investments in Public Equities) technology companies
in the security, clean energy and mobile software markets. 21Ventures
has over $250 million in committed capital, in 24 companies in Israel
and the United States. Approximately half of 21Ventures investments are
in clean energy companies.
For more information, Contact David Anthony, Managing Director
21Ventures 212-699-0842 e-mail danthony@21ventures.net Website:
http://www.21Ventures.net
About CogniSafe, Ltd.
Founded in 2006, CogniSafe provides a real-time software solution for
detection of cheatings in online games. By employing CogniSafe's
solution with any online game, the game provider can have real time
insight into the cheating phenomena and can shut down the accounts of
cheaters, not by way of "post-mortem" analysis, but rather while the
cheating occurs. CogniSafe develops a suite of products for a wide
variety of online games.
CONTACT: David Anthony, Managing Director, 21Ventures
Tel: +1 212 699 0842
e-mail: danthony@21ventures.net
WWW: http://www.21Ventures.net
Izik Shimon, CEO, CogniSafe, Ltd
Tel: +972 54 661 0985
e-mail: yshimon@cognisafe.com
WWW: http://www.cognisafe.com
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