Finjan Series A Financing

Finjan TeamBlog, Shareholder Updates

Finjan Finjan Series A Financing

IP Watchdog recently featured a story on Finjan and our IPR-resistant cybersecurity patent portfolio. On our first conference call update for shareholders, we announced our $10.2 million preferred share financing led by Halcyon Long Duration Recoveries Management and Soryn IP Group which represents our first capital raise since going public on the NASDAQ stock exchange. What’s more, Finjan is averaging an 80% success rate on denial of PTAB Inter partes reviews (IPRs) and confirmations on USPTO re-examines. Finjan’s long-term staying power, as well as its patent licensing and enforcement activities, were seen as reasons why Halcyon and Soryn entered into the investment round.

The role that patents played in Finjan’s business activities was discussed in great detail near the beginning of the conference call. CEO Phil Hartstein discussed how Finjan had been successful in navigating changes to the patent landscape brought about by legislative and judicial changes as well as significant administrative changes at the U.S. Patent and Trademark Office. “These challenges are threatening a number of business models and we’ve recently seen several companies significantly pivot just to survive,” Hartstein said.

Finjan CFO Michael Noonan also discussed its cybersecurity consultation business CybeRisk Security Solutions, an Israel-based division opened by Finjan last June that provides cybersecurity risk advisory services to its clients. Noonan acknowledged that the company has taken some time to ramp up but he added, “CybeRisk’s theme of the data room to the board room is resonating.” In this year’s second quarter, Finjan expects CybeRisk to land between $150,000 to $300,000 of business from new clients.

“Finjan continues to transform by introducing new products, investing in start-ups and establishing industry-wide best practices for patent licensing,” said Michael Gulliford, the Founder & Managing Principal of Soryn Capital, an affiliate of Soryn IP Group.” We have been, and continue to be, extremely impressed with Finjan’s management, technology, and intellectual property.”

Read more about our recent successes in the article below.

Finjan Series A financing supported by IPR-resistant cybersecurity patent portfolio.

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