Epic Ventures

Nov 30, 2006

TriCipher, Inc. Names Vatsal Sonecha as Vice President of Strategy and Business Development

San Mateo, Calif.

After leading McAfee to formidable growth and diversification in key market segments, executive turns his focus to multi-factor authentication

TriCipher, Inc., the leading innovator and provider of future-proof, risk-based authentication, today announced that Vatsal Sonecha has joined its executive team as vice president of strategy and business development. Sonecha's charter is to accelerate partner and eco-system development at TriCipher as it continues to expand the applications for its market-leading multi-factor authentication technology. That technology, the foundation for the company's TriCipher Armored Credential System (TACS), is based on 25 issued and pending patents and is deployed today by many of the world's largest banks, credit unions, and other financial institutions.
"We're experiencing unprecedented demand for new authentication solutions, driven both by the continued onslaught of new threats and the overwhelming acceptance of TriCipher technology," said John DeSantis, president and CEO of TriCipher. "Vatsal brings us a solid record of success, both in his vision and in his ability to catalyze the adoption of new and innovative security solutions across multiple market sectors."

Sonecha joins TriCipher after achieving a string of successes at McAfee, Inc., where he served as Vice President of Market Development. There he directed an initiative to develop the Service Provider sector business; directed all marketing programs for network and gateway security products geared for the sector; and forged several strategic relationships. He also directed McAfee's strategic multi-pronged alliance with Microsoft, including a campaign in response to the "Blaster" worm that resulted in day-one sales of $1 million. Before joining McAfee, he served as Vice President of Business Development for Raza Foundries, guiding portfolio companies from the initial due-diligence phase all the way through investment and company building.

"Multi-factor authentication is a burgeoning market, and TriCipher's TACS technology has been accepted by marquee customers globally," said Sonecha. "My role is to help the company reach a new level of non-linear growth by evangelizing our innovation and building an even stronger partner network. With a strong team, great technology, and happy customers, we're poised for the next wave of customer demand as the online identity protection market continues to evolve."

About TriCipher, Inc.

TriCipher, Inc. provides Future Proof Risk Based Authentication. The TriCipher Armored Credential System(TM) (TACS) is the first authentication system that enables companies to deploy and manage multiple types of credentials from a single infrastructure. Through this flexible "Authentication Ladder," TriCipher delivers future-proof security - protecting customers' investment by enabling authentication strength to adjust in response to new threats and regulatory changes without the need to implement a new infrastructure. In addition, TriCipher delivers risk-based authentication, preventing online fraud through seamless integration with fraud detection systems, secondary authentication systems, and the ability to enforce security software presence checks for malware protection. Founded in 2000, TriCipher is headquartered in San Mateo, California. The company is backed by ArrowPath Venture Capital, Intel Capital, Trident Capital, and Wasatch Venture Partners. For more information, visit TriCipher on the web at www.tricipher.com.

TriCipher and Armored Credential System are either registered trademarks or trademarks of TriCipher, Inc. in the United States and/or other countries. All other products and services mentioned are trademarks of their respective companies.


Source: TriCipher, Inc.