News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

Investment in CNP-Related Companies Heats Up

Investment in CNP-Related Companies Heats Up

Investment in the fraud detection and identity sectors appears to be heating up—good news for technology companies, but bad news for merchants in the space as the need for these solutions becomes more pronounced. Three companies whose solutions can be applied in the card-not-present fraud space have this week announced multimillion-dollar funding rounds.

DataVisor, a Mountain View, Calif.-based antifraud technology provider, raised $40 million in a third round of funding. The company uses machine learning to automate online fraud detection. Sequoia China led the round. Data Visor works with Pinterest, Yelp and Alibaba Group, among others.

Payfone, a company based in New York City that provides identity verification services for the retail, banking, insurance and healthcare sectors, said it has secured $23 million in a funding round led by Synchrony Financial. Payfone said it focuses its solution on using the mobile device to authenticate users.

Palo Alto, Calif.-based IdentityMind’s technology builds maintains and analyzes digital identities worldwide, allowing companies to perform identity proofing, risk-based authentication, regulatory identification, and to detect and prevent identity fraud. In a Series C round led by Benhamou Global Ventures and Eastern Link Capital, IdentityMind netted $10 million in new funding for expansion in Asia, Latin America and Europe.

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