March 22, 2018
Capitalizing on an increased appetite for investment in the online fraud prevention space, San Francisco-based Sift Science has secured $53 million in new funding. The Series D round, led by New York City-based growth equity firm Stripes Group, brings Sift’s total amount raised to $107 million. Existing investors Union Square Ventures and Insight Venture Partners also participated in the most recent round. In a press release, Sift said it will use the additional capital to continue its expansion into global markets outside the U.S.
Founded in 2011, Sift offers a machine-learning-based fraud prevention solution that addresses various types of fraud aimed at e-commerce merchants and financial institutions. Most recently the company has been offering its technology to merchants concerned with the growing problem of account takeover (ATO) fraud.
Sift and Card Not Present teamed up in January on a month of ATO-related content. Please visit this special section to access CNP webinars and articles and an eBook from Sift on the state of ATO fraud, how to detect it and how to prevent it.