LifeLock
Company: LifeLock, Tempe, AZ
Company Description: LifeLock (www.lifelock.com) helps consumers to render their personal information useless to thieves, backing it up with a one million-dollar service guarantee. Unlike other security services, LifeLock specializes in the prevention of identity theft rather than the reporting of it, providing customers with the tools to proactively protect their personal information.
Nomination Category: Company Categories
Nomination Sub Category: Best Overall Company of the Year
Nomination Title: LifeLock
Tell the story about what this nominated company achieved since January 1 2008 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
Innovative Approach and Future Plans:
Early on in the company, LifeLock CEO Todd Davis announced his Social Security
Number to the world and put in place the first $1 million dollar guarantee.
But Davis wanted to offer more innovative products that consumers could not do
themselves. In 2008, eRecon™ and TrueAddress™ were offered to LifeLock
members. eRecon is a service that patrols over 10,000 black market websites
searching for LifeLock member’s personal information being illegally sold or
traded. TrueAddress notifies members if their address has been changed with
national databases. Davis also decided that the best way to show credibility
of the LifeLock product would be through well-known partners. LifeLock is now
offered through hundreds of partners, including Office Depot, US Airways and
CVS. Currently nearly 45% of LifeLock’s business is brought in through
partners, and by end of 2009, Davis’ goal is 60%. Educating consumers has
always been important to Davis. That is why in 2008 LifeLock partnered with
FBI-LEEDA to bring continued education to law enforcement across the nation on
identity theft.
Company Culture:
CEO Todd Davis has installed a culture that LifeLock employees live by. “Do
what you should, and not what you can,” is a statement frequently used. This
value system shows that Davis wants each employee to go above and beyond within
the company. LifeLock’s Member Service Department goes above others by
providing world class customer service which won the company a 2009 CRM
Magazine Service Elite Award. LifeLock’s Public Affairs Department shows their
buy in to the culture by educating consumers on an ongoing basis on how they
can protect themselves, even explaining what they can do for free. In 2007,
LifeLock provided 17 different organizations sponsorships and donations,
including art organizations and police departments. LifeLock has provided more
than 20 scholarships in the last two years to Arizona State University for
students majoring in Business, IT, Criminology and Law.
The company value system is also carried out through how employees are
treated. Davis insists on providing superior benefits, which go above typical
offerings that companies provide. This decision proves that employees are
committed to the company and is shown through the 94% churn rate.
Through Davis’ leadership, the company was named recipient of the Red Herring
100 Global Award as one of the Top 100 start-up’s in the world and was listed
among the finalists for the Best Places to Work in 2007 by the Phoenix Business
Journal. LifeLock was awarded both the Hot Growth Award from bizAZ, and also
the azFast 15 Award from the Arizona Business Magazine in 2008. Most recently,
it was announced that Davis will be receiving the 2009 Arizona Business
Leadership Award.
List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
http://au.sys-con.com/node/921326
http://www.lifelock.com/about-us/press-room/2009-press-releases/lifelock-speaker-series
Provide a brief (up to 100 words) biography about the leader of this nominated company:
Founded in 2005, LifeLock works to close many of the doors identity thieves go
through to misuse personal information. Closing in on 1.5 million members,
LifeLock has earned multiple awards, including the Red Herring 100 Global Award
as one of the Top 100 start-ups in the world. LifeLock was the recipient of
two American Business Awards for advertising in 2008, and most recently,
garnered an additional award honor for advertising from the International
Business Awards. LifeLock representatives are available to assist members 24
hours a day, seven days a week from the company’s secure facility in Tempe,
Ariz. LifeLock (www.lifelock.com) is a private company backed by Goldman Sachs,
Kleiner Perkins Caufield and Byers, as well as Bessemer Venture Partners.
Todd Davis is a man who knows how to make people to take notice. One of the top
experts on the dangers and solutions surrounding identity theft, Davis has
committed the last four years to building a company on the forefront of this
crime. A Certified Identity Theft Risk Management Specialist™, Davis travels
across the country educating the public on the dangers of identity theft and
the importance of taking proactive steps to protect oneself. He often serves as
the voice for consumers when working to enact stronger laws related to curbing
the growth of identity theft. In February 2008, he toured the Southeastern
United States to educate consumers about the threats of identity theft and the
free steps that can be taken to protect individual identities. The "Strike Back
Tour" started in Miami, Florida and, with many stops in between, concluded in
Washington D.C. In less than 13 days, Davis collected and delivered more than
25,000 signatures from Americans to members of Congress, and in turn,
solidified his stance for stronger laws to protect consumers and harsher
penalties for people found guilty of the crime.
Also, in February 2008, Davis worked closely with Arizona legislative leaders
to pass a new bill to provide additional measures for Arizona residents to
safeguard their identities. House Bill 2587 says that any person or company
that has the ability to approve credit to individuals must use a third party,
such as the credit bureaus, to confirm the individual's identity.
Under Davis' leadership, LifeLock was named a finalist for seven 2008 American
Business Awards; Davis was nominated for the Best Executive Award two years in
a row. He served as member of the Crime Prevention Coalition of America and was
a contributing member of the Identity Theft Prevention and ID Management
Standards Panel working with the President's Identity Theft Task Force. Davis
now serves as the chairman for the Sam Schmidt Paralysis Foundation, which
works to help individuals overcome spinal cord injuries and other neurological
disorders. He also serves on the board for MENTOR, the nation’s leading
mentoring advocacy and resource organization as well as the board for the Boys
& Girls Club of Metropolitan Phoenix and the National Organization of Victims
Assistance (NOVA), the oldest national group of its kind in the worldwide
victims’ movement.
Before leading LifeLock, Davis served as the managing partner of a successful
marketing organization and was the executive management for multiple technology
start-up companies. It was in those roles that Davis was able to raise millions
in investment capital from both private investors and venture capital firms
such as Draper Fisher Jurvetson, Wasatch Venture Fund and ParTech International.
A 1990 graduate of Baylor University with a double major in entrepreneurship
and management, Davis was quick to climb the corporate ladder, becoming the
youngest person ever promoted to account executive at Dell Computer. While with
Dell, he signed 3M to one of the largest accounts in the company's history and
was responsible for more than $15 million in annual revenue. He also achieved
the Dell Vision Award and was distinguished with the Circle of Excellence and
membership in the President's Elite Circle in his first year with the company.
Davis and his wife, Michele, have twin boys and reside in Chandler, Arizona.