TEL AVIV, Israel, April 2, 2019 /PRNewswire/ -- Segasec has been seen selected to join Start Path, Mastercard's programs for elite later stage startups. Segasec was selected to be among 7 startups from across the globe to participate in the program. Annually, Mastercard evaluates nearly 2,000 startups for possible participation in Start Path. Less than 2% of applications are accepted into the highly competitive program. The six-month program provides startups with operational support, commercial engagement and the opportunity for strategic investment.
"Segasec is honored by the opportunity to collaborate with Mastercard, a global leader in payment technology. We are excited about the mentorship by top professionals and the exposure to international markets. Especially in the financial sector, this will help us drive our vision to safeguard millions of customers from being scammed, allowing businesses to safeguard one of their most precious assets, their customers' trust and their brand equity." said Elad Schulman, Co-founder & CEO, Segasec.
The rapid progress in digital transformation raises new challenges in cyber security, especially in the area of customer facing phishing. In 2018, 50% of such impersonating phishing attacks targeted customers of organizations in the financial sector followed by ecommerce platforms. In 2017, in the US & UK alone, an average of 443 retailers per month were targeted by phishing attacks.
Segasec, the Tel Aviv-based cyber-security company, has developed numerous patent-pending algorithms and offers a consolidated solution that helps organizations tackle phishing attacks targeting their customers. Segasec's unique solution not only monitors the infinite web for brand impersonation, but also traps and takes down and even deceives hackers.
"With Start Path, we scour the globe to identify the most promising scaling startups and Segasec is a great example of that," said Amy Neale, Mastercard vice president and startup engagement lead. "We look forward to working together over the next six months to support Segasec to scale globally and work on opportunities to collaborate."
Segasec is an Israeli based cyber-security startup providing end-to-end digital threat protection against customer hijacking attacks that originate in your blind spot - beyond the enterprise perimeter. Segasec's patent-pending technology provides intelligence of upcoming attacks at the earliest possible preparation stages, running quadrillions of targeted scans that identify even unknown attack patterns. Segasec blocks compromised assets before they become a live risk, because once customer trust is broken, it's already too late.
For more information, visit https://segasec.com/