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Maryland startup aims to defend social media accounts

A Baltimore-based technology firm known as Riskive has attracted about $2.2 million from investors in Maryland and across the nation. These funds could help the company protect users of Facebook, Twitter and other social networking services from scams, pranks and other invasions of privacy. Riskive has already launched both free and paid services designed to defend social media accounts from unwanted intrusion and hopes to eventually become as ubiquitous as email spam filters and antivirus programs.

Frequent Internet users have likely encountered the pranks or scams Riskive aims to combat. One wrong click can cause a Facebook account to automatically to post hundreds of automatic messages about weight loss products or other spam to friends' profiles. Riskive's founders say they can address this increasingly common problem. The firm's chief operating officer believes the business could be successful enough to follow other online successes of recent years such as Facebook or Yelp and go public. This is a goal that Comcast and other high-profile investors appear to support.

Investors have cited the Riskive team's experience with building successful tech companies as what helped attract them. One of the firm's co-founders worked at such industry titans as McAfee and Verisign before going on to lead Cyphent, a Maryland-based IT security business that was featured in Inc. Magazine's annual list of the nation's fastest growing companies. Riskive's backers say the large size of the company's prospective market also helped convince them to invest. Facebook listed a staggering 1.15 billion active users as of March 2013, while Twitter boasted about 500 million users.

Riskive has also received honors from a number of local and regional organizations. It was selected as the top startup at an annual showcase organized by the Mid-Atlantic Venture Association and won the title of Maryland Incubator Company of the Year in 2013.

Founding a successful startup in Maryland is a complex endeavor. Locating qualified legal assistance is often equally important as finding a marketable business idea. If you are an entrepreneur and in need of startup assistance, contact an experienced business attorney in order to maximize your chances of success.


Source: 
Baltimore Sun, "Betamore startup sees unmet need protecting social media accounts" Scott Dance, Aug. 03, 2013

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