In 1995, Shlomo Touboul, Finjan's founder and lead inventor on a number of our patents, became intrigued with the Java programming language, which was being developed by Sun Microsystems. While the commercial success of Java, at the time was unknown, it has become one of the most widely used software technologies to deliver content and information over networks and the internet. Shlomo immediately recognized that this program would require a new type of security to protect it from hackers.
In fact the name "Finjan" is derived from the word used in the Middle East to describe a vessel or small cup that contains or "protects" the coffee - or java. Shlomo believed the name was appropriate because the idea for the company and the associated technology came from his realization that with the introduction of the Java programming language, the existing security software would not be able to contain or protect against the possible threats to a computer using Java.
As a result, in 1996, Finjan was formed in Israel to cultivate proprietary technology that focused on proactively detecting threats to online security by identifying patterns and behavior of online viruses and other malicious code, rather than relying on lists of threats or "signatures" known within the online security industry. This technology allows users to scan and repel the latest, and often unknown, and sometimes polymorphic and metamorphic code threats to network, web, and endpoint security on a real-time proactive basis. Following the development of these security technologies and subsequently receiving world-wide patent protection, Finjan provided secure web solutions, including security software and hardware, to the enterprise and endpoint markets. After locating its headquarters in San Jose, CA in 1997, Finjan raised funding from top tier US and international venture funds, private equity groups, and corporate investors including Microsoft and Cisco.
In 2002, Finjan began a migration from a pure software company into a diversified hardware and software platform technology provider. The Company focused its efforts on further research & development and began sales and marketing activities to bolster its position in the industry and enhance of its platform of content inspection technologies.
In 2005, the online security industry began moving towards real-time, behavior-based, proactive threat detection, at times in violation of Finjan's patent rights. In the same year, the Company completed its first license with Microsoft. A year later, in 2006 Finjan initiated its first enforcement action against Secure Computing when it was determined that a negotiated license was not likely to be achieved.
In late 2009, Finjan divested certain hardware and technology assets, including sales and executive teams, including the Company's Malicious Code Research Center (MCRC) into M86 Security. More recently, M86 Security was acquired by Trustwave. While both M86 Security and Trustwave are licensed to the Finjan patents, we maintain our ownership of the intellectual property which we continue to license throughout the industry.
In June 2013, Finjan became a publicly traded company capitalized with $30M, installed a new management team, and began a more focused program to license the Company's landmark intellectual property. In May of 2014, Finjan was listed on the NASDAQ Capital Market under the trading symbol "FNJN" where we continue to trade today.
Finjan's commitment to innovation in the security space continues through its investments which have culminated in the launch of Finjan’s consulting services business, CybeRisk, development of mobile applications through Finjan Mobile and incubation of up-and-coming technology startups pioneering a new generation of security technologies through our investment in Jerusalem Venture Partners (JVP) Fund VII's Cyber Labs, having invested alongside other technology companies.
To date, Finjan has generated more than $175M in income from the licensing of its intellectual property.