Allure Security Technology

Company Overview

Allure Security Technology is a cybersecurity company that specializes in protecting enterprises from online fraud and phishing attacks. Founded by Dr. Salvatore Stolfo, a professor of Computer Science at Columbia University, the company is headquartered in Boston, Massachusetts. Allure Security uses artificial intelligence and deception technology to detect and eliminate online brand impersonation attempts across websites, social media platforms, and mobile app stores.

Products Overview

Allure Security offers a comprehensive suite of brand protection solutions:

1. Domain/Website Protection: Uses AI to visually examine millions of sites daily to detect online impersonations of a brand. It finds phishing websites, fake shops, cloned sites, and other fraudulent sites.

2. Social Media Protection: Monitors social media platforms for newly created accounts and messages that impersonate a brand or key employees.

3. Mobile App Protection: Scans popular third-party app stores for impersonations of a company’s brand and apps.

4. Account Takeover Prevention: Detects credential theft, identity theft, payment data theft, and personal information theft attempts.

The company’s unique approach includes injecting realistic decoy data into detected scam sites to disrupt the attackers’ operations and gather intelligence on both the scammers and potential victims.

Founding Team

The company was founded by Dr. Salvatore Stolfo, a professor of Computer Science at Columbia University since 1979. He is known for his research in machine learning applied to computer security, intrusion detection systems, and anomaly detection algorithms.

Problem and Market Fit

Allure Security addresses the growing problem of online brand impersonation and phishing attacks that lead to account takeovers, identity theft, and financial fraud. With over 500,000 new fraudulent websites created every week, and the increasing sophistication of social media and mobile app scams, there’s a clear need for advanced brand protection solutions in the market.

Business Model

Allure Security operates on a B2B model, providing its brand protection services to enterprise customers. They likely use a subscription-based pricing model, offering their suite of protection services to businesses concerned about brand impersonation and customer security.

Funding and Runway

The company has recently closed a $10 million Series A funding round led by Curql. This indicates that Allure Security has successfully attracted significant investor interest and has funds to fuel its growth and product development.

Competitive Landscape

While specific competitors aren’t mentioned, Allure Security operates in the competitive cybersecurity and brand protection space. Their differentiation appears to be in their use of AI for visual examination of websites and their unique deception technology that injects decoy data into scam sites.

Customers

Allure Security serves enterprise customers across various industries, including:

1. Financial Services: Banks, crypto wallets, payment providers, broker/dealers, financial advisors, asset managers, FinTechs, accountants, insurance companies, and credit unions.
2. E-commerce: Online merchants of all types.
3. Digital Publishers
4. Government agencies
5. Healthcare organizations
6. Higher Education institutions

Relevant News

As of August 2024, Allure Security announced the closure of a $10 million Series A funding round led by Curql. This recent funding is a significant milestone for the company and indicates strong growth potential.

Management Team

1. Josh Shaul - Chief Executive Officer
2. Jack Hembrough - Executive Chairman
3. Dr. Salvatore Stolfo - Founder
4. Erik Dasque - Chief Technology Officer
5. Jason Sales Gonzales - VP of Worldwide Sales
6. Molly DeQuattro - VP of Operations
7. William (BJ) Moore - Chief Digital Officer

The management team brings a mix of cybersecurity expertise, entrepreneurial experience, and technical knowledge to the company.