Forter Secures $15 Million Investment
Nov. 13, 2014
Forter, an Israeli antifraud technology provider for e-commerce businesses, on Tuesday closed a $15 million round of Series B financing. The company, launched by PayPal vets earlier this year , offers a promise to cover 100 percent of the costs if a transactions they approved is charged back because of fraud.
“During the last year we have approved hundreds of millions of dollars’ worth of transactions that have allowed merchants to boost their mobile commerce, accept more international customers and significantly improve the brand experience,” said Michael Reitblat, CEO and co-founder of Forter. “Our merchants are shipping faster, selling more and experiencing higher customer satisfaction.”
The investment round was led by New Enterprise Associates and Sequoia Capital and brings the company’s total funding to $18 million. Forter said it will use the funds to expand sales and marketing efforts in the U.S.