Forter, a NYC-based e-commerce fraud prevention company, raised $300m in Series F funding.
The round, which brought the company’s valuation at $3 Billion, was led by Tiger Global Management, with participation from Third Point Ventures and Adage Capital Management and existing investors Bessemer Venture Partners, Sequoia Capital, March Capital, NewView Capital, Salesforce Ventures and Scale Venture Partners.
The company intends to use the funds to continue expanding its global ecosystem.
Led by Michael Reitblat, CEO and co-founder, Forter is a leader in e-commerce fraud prevention, processing over $250 billion in online commerce transactions and protecting more than a billion consumers globally from credit card fraud, account takeover, identity theft and more. The company’s identity-based fraud prevention solution detects fraudulent activity in real-time, throughout all online consumer experiences.
As Online Fraudsters Flourish, Forterâs Valuation Triples To $3 Billion In Six Months
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Fraud is not a new problem. Some historians trace it back to 300 B.C., when a Greek merchant named Hegestratos took out an insurance policy on his boat full of corn with the intent to sink it and collect the insurance money. A couple of millenia later, fraudsters are more likely to be surfing the web than the open seas.
But modern day grifters face a challenge in Forter, which has just closed an oversubscribed $300 million round of venture capital to further expand its business of detecting fraud in online transactions via machine learning. Tiger Global Management, a prolific Silicon Valley firm, led the Series F funding round, which nearly tripled Forterâs valuation to $3 billion in the half-dozen months since its prior round. Third Point Ventures and Adage Capital Management also joined Forterâs latest capital infusion, along with existing i
Forter raises $300M on a $3B valuation to combat e-commerce fraud
E-commerce is on the rise, but that also means the risk, and occurrence, of e-commerce fraud is, too. Now, Forter, one of the startups building a business to tackle that malicious activity, has closed $300 million in funding a sign both of the size of the issue, and its success in tackling it to date.
The new funding, a Series F, values Forter at $3 billion notable not least because the funding is coming only about six months since Forter’s previous round, a $125 million Series E that valued it at over $1.3 billion.
Forter raises $300m at $3b valuation
The Israeli e-commerce fraud prevention company has nearly tripled its valuation since its last financing round six months ago.
Israeli e-commerce fraud prevention company Forter today announced that it has completed a $300 million in Series F financing round led by Tiger Global Management, with participation from Third Point Ventures and Adage Capital Management. Existing investors also participated including Bessemer Venture Partners, Sequoia Capital, March Capital, NewView Capital, Salesforce Ventures and Scale Venture Partners.
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Forter has raised the money at a valuation of $3 billion, nearly tripling its valuation over the past six months from when it raised $125 million in its Series E financing round. Forter will use the additional funding to work with retailers, e-commerce platforms, banks and payment providers to fight fraud, enhance trust, boost confidence and improve the shopper experience.
Forter Doubles Revenue in Last 12 Months; Raises $300M for a $3B Valuation
on May 25 2021 11:15 PM
Driven by the Recent Imperatives of Rapid Digital Transformation, The Largest Retailers Around the Globe Are Now Relying on Forter’s Real-Time Frictionless Fraud & Abuse Prevention Platform to Fuel Growth
NEW YORK (BUSINESS WIRE) Forter, the leader in e-commerce fraud prevention, today announced it has raised $300 million in Series F funding led by Tiger Global Management, with participation from Third Point Ventures and Adage Capital Management. Existing investors also participated including Bessemer Venture Partners, Sequoia Capital, March Capital, NewView Capital, Salesforce Ventures and Scale Venture Partners.