Signifyd, a fraud protection provider for e-commerce businesses, has raised $19m in funding. The round comes from Menlo Ventures, TriplePoint Capital and American Express Ventures.
The company, which was founded by ex-PayPal fraud and risk experts Raj Ramanand and Mike Liberty, offers a 100% financial guarantee where it will pay any fraud costs stemming from transactions it approves. Signifyd claims merchants see an increase of up to 20% in margins.
American Express Ventures partner Rohit Bodas said, “Merchants of all sizes have a growing need for fraud-management solutions as more consumers shop online.
“By leveraging machine learning and providing a 100% guarantee, Signifyd is making it possible for even the smallest merchants to combat fraud and achieve measurable cost savings in the process.â€
The round follows the $20m Series B raised by the company in February and takes its total funding to $50m.
It says it will use the capital to scale its infrastructure and continue to develop its machine learning technology.
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