Leader in Data Loss Prevention & Identity Protection Announces First-Quarter 2010 Earnings

NEW YORK, April 13 /PRNewswire/ -- Identity Finder, LLC, a global leader in data loss prevention (DLP) and identity protection, today announced its earnings results for the first quarter of 2010. Identity Finder has posted net sales of $1.5 million and a net income of $1.2 million. These figures reflect increases of over 100% compared to the same quarter a year ago. The consumer product line saw strong growth due to upgrades from the Identity Finder Free Edition, while hundreds of new businesses purchased site licenses for Identity Finder Enterprise Suite.

The DLP market continues to grow at a considerable pace as states enact data breach notification laws (45 of the 50 states now have these laws in place) and as the federal government adopts legislation such as HIPAA, FERPA, and Massachusetts 201-CMR-17.00 to protect consumer's personal information. "A significant number of new businesses purchased our product over the last few months and their satisfaction has been a catalyst for new sales and opportunities," says Todd Feinman, CEO of Identity Finder. "This exposure is helping us grow quickly across the retail, higher education, government, and healthcare verticals." Retailers including Barnes & Noble and higher education institutions including Penn State University now use Identity Finder Enterprise Suite.

The identity theft prevention market is also growing strongly. According to the FTC, approximately 10 million Americans have their identities stolen each year and identity fraud is growing by about 10% annually. This growth has resulted in tremendous focus being placed on identity protection technologies. Feinman added, "Consumers are becoming more privacy conscious and proactive in protecting their computers from the threat of viruses and malware stealing their sensitive, personally identifiable information."

The Identity Finder software automatically searches through electronic data in files, e-mails, databases, websites, desktops, and remote computers. It then provides a workflow to remediate any unprotected, sensitive information by shredding, redacting, encrypting, or quarantining the data.

The company is launching version 4.5 this month. Over a thousand enterprise customers and a million consumers already using Identity Finder will receive these new updates. The major changes in this version provide new capabilities and tools to both enterprises and consumers, including:

• Mac users will now be able to more easily search for additional types of sensitive information using a redesigned graphical interface. IT administrators will be able to manage their Mac clients centrally, change policies on demand, and schedule searches to ensure that new sensitive data is quickly discovered and protected.

• Windows users will more efficiently and effectively discover unprotected sensitive information with faster and more accurate search capabilities that use advanced file identification and enhanced search history.

• Business units and entire enterprises will be able to generate their own custom reports that show where sensitive data resides as well as security actions that were taken. Reports now enable the analysis of sensitive data storage to help users make more informed decisions and improve company processes.

About Identity Finder

Identity Finder, LLC was founded by innovative security experts and is headquartered in New York City. Its technology gives users the ability to find and protect sensitive data. The company has quickly grown to become a leader in DLP and identity theft prevention by helping millions of consumers, small businesses, and enterprises in over 50 countries. The management team is comprised of globally recognized specialists who are thought leaders in the security and privacy industry.

Contact:

http://www.identityfinder.com

Lauren Hovey: [email protected] or (646)507-5836

This press release was issued through eReleases(R).  For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

SOURCE Identity Finder, LLC

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