September 27, 2018
Antifraud technology provider Forter yesterday revealed it has closed a $50 million Series D round of funding led by March Capital Partners with participation from Salesforce Ventures.
Forter is one of several companies in the card-not-present fraud space that will analyze a merchant’s transactions and deliver a accept/decline decision rather than a risk score merchants factor into a decision they make on their own. It was also one of the first companies to guarantee that decision by covering a merchant’s chargeback costs on any transaction it approved that turned out to be fraudulent.
The company said it will use the capital infusion to double the resources committed to R&D and to continue to expand internationally. The Series D investment brings the total raised by the Tel Aviv-based company to $100 million.