19 May Feedzai Secures More than $17M in Funding
Feedzai, a San Mateo, California-based data science company that provides fraud prevention and detection solutions, secured $17.5m in Series B funding. The capital takes Feedzai’s total to more than $22 million, and will help the company grow its engineering and sales talent to help meet demand ofr the company’s anti-fraud technology.
Backers included Oak HC/FT, Sapphire Ventures (formerly SAP Ventures) and Espirito Santo Ventures. In conjunction with the funding, Oak HC/FT’s Patricia Kemp and Jonathan Weiner, co-founder of Money20/20 and former Head of Global Business Development for Google Wallet and Payments, joined Feedzai’s board of directors.
Kemp highlighted Feedzai’s big data science and machine learning background as key to her firm’s decision to invest. Feedzai’s technology analyzed more than 18 billion transactions in 2014, equaling more than $760 billion in payment volume. The company’s Fraud Prevention API for developers handled transaction growth of more than 300% “in late 2014.”
Read more on: Finovate
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