Thursday, August 24, 2006

Thinking like a criminal

"Based on feedback from banks, the company has developed a new product it plans to launch shortly. It's called ImageMask, and it is used to obliterate key personal information that can be gleaned over the Internet from trust deeds, check facsimiles and other documents.

To help market the product, Eisen has enlisted the help of Frank Abagnale Jr., a former check forger and con artist whose exploits were recounted in the book and film Catch Me If You Can.

The 41st Parameter generated $1 million in sales in 2005 with Eisen and one other employee and hopes to do $5.5 million in 2006. The company now has 27 employees and aims to have 40 by the end of the year.

'We're very busy,' Eisen said.

Eisen wants to take his company public, and he has been successful in attracting investments from venture capitalists.

Last year, Norwest Venture Partners of Palo Alto, Calif., led a group that gave the company a $4.5 million first round of financing.

In May, Norwest participated in an $11.5 million second round led by Silicon Valley venture firm Kleiner Perkins Caufield & Byers. "

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