Arkose Labs, an online fraud and abuse prevention technology developer, has scored $22m in its Series B round.
Contributions came from M12, Paypal and USVP.
Capital from the round will be used to improve product development, make new hires and increase global expansion efforts.
Arkose differentiates itself from other service providers by cutting fraud off at the source by making cybercriminals expend massive effort to conduct their attacks, it claims. This eliminates their POI and probability of fraud.
Its software can help combat account takeover, new account fraud, payment fraud and scraping.
Over the past few months, Arkose Labs has nearly doubled its customer base, enhanced its platform and risk engine and received a number of awards, it claims.
Arkose Labs founder and CEO Kevin Gosschalk said, “Our platform takes a zero-tolerance approach to cyber-attacks and our team is committed to putting a stop to the global fraud epidemic. Microsoft and their venture capital fund M12 are incredible partners, as they recognize the major opportunity we have to eliminate fraud, rather than contain it.”
Arkose secured a $6m Series A round in 2018 from US Venture Partners and a number of angel investors.
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