Online fraud and abuse prevention company Arkose Labs has received an investment from the Sony Innovation Fund, by Innovation Growth Ventures.
This investment comes after Arkose stated how the gaming industry is benefitting from its partnership with major gaming companies Microsoft, Sony Interactive Entertainment, Roblox, EA, Minecraft and a number of other gaming companies. Its technology helps to combat account takeovers and eliminate the creation of fake accounts.
Its technology provides helps companies to address abuse of virtual economies, bot-driven in-game cheating and bonus abuse.
Based in San Francisco, the technology is used to detect fraud in a range of industries including finance, FinTech, retail, travel, e-commerce, media and more.
Arkose Labs CEO Kevin Gosschalk said, “Fraud detection and prevention has never been more important, particularly in the realm of online gaming.
“We look forward to continuing our work with the gaming industry to make online experiences safer in an ever-tumultuous world. With proven technology that breaks down the ROI of fraudsters and a newly expanded executive leadership team, we’re in a stellar position to protect both individuals and businesses struggling with an onslaught of fraud brought on by increased digital adoption.”
The company previously raised $22m in its Series B round back in 2020, with capital coming from M12, Microsoft’s venture capital fund.
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