Guardian Analytics Secures $9 Million in New Financing
June 1, 2010
Guardian Analytics, a provider of predictive analytics-based fraud prevention software, said it has raised $9 million in Series C funding. The Los Altos, Calif.-based company’s third round of funding was led by Sutter Hill Ventures with participation by existing investor Foundation Capital. The most recent infusion of capital will be used to accelerate product innovation and capitalize on the growing demand for online banking and payments fraud prevention solutions for financial institutions. “Banks and credit unions are at war with cybercriminals and need solutions that can protect them against ever-evolving threats,” said Greg Sands, managing director, Sutter Hill Ventures. “Guardian Analytics is solving this escalating industry problem with a clearly differentiated and proven approach.” The company employs the Gartner Magic Quadrant for Web Fraud Detection and is gaining recognition for its innovative predictive analytics technology and deep expertise in online account takeover and payments fraud, according to a press release.