CyberDefender Corp. on Tuesday announced it has received $5 million in debt financing from an affiliate of direct marketing giant Guthy-Renker LLC.
CyberDefender, based in Los Angeles, makes software for PC security, antispyware-antivirus, PC optimization and identity theft prevention.
“This capital strengthens our balance sheet and will enable us to fund accelerated growth throughout 2010,” said Chief Executive Gary Guseinov in a press release. “With Guthy-Renker’s support over the last year we have dramatically increased our marketing reach with radio and television advertising.”
Guthy-Renker, based in Santa Monica, is best known for its TV infomercials that market everything from self-help programs to skin care. It was an early investor in CyberDefender through its GR Match LLC affiliate.
“We believe there are unrealized opportunities in the market for Internet security software,” said Guthy-Renker Co-CEO Ben Van de Bunt.
CyberDefender shares were up 10 cents, or 2.5 percent, to $4.10 in midday trading on the Over-the-Counter Bulletin Board.
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