Monday, June 9, 2008

Memento, Fair Isaac team up on financial firm security

By Mass High Tech Staff

Fraud and compliance software maker Memento Inc. and the Fair Isaac Corp. have formed a strategic partnership, according to the companies.

Under the agreement, Minnesota-based Fair Isaac will offer Memento’s fraud management platform Memento Security to financial services companies worldwide, officials said. Financial terms of the deal were not disclosed.

Concord-based Memento was founded in 2003. In 2007, the company closed a $7.5 million third round of venture capital funding, led by investor .406 Ventures, a Boston-based venture capital firm. Previous investors Bain Capital Ventures, Rock Maple Ventures, and private investors also invested in Memento’s financing round.

Fair Isaac (NYSE: FIC), founded in 1956, provides analytical, software and data management products and services.