New Israeli Unicorn: Anti-fraud Startup Riskified raises $165 million

Money

Riskified has raised Series E funding round at a valuation of more than $1 billion. Since founded in 2012 the company has raised $229 million.

Tel Aviv-based data security and fraud prevention solution startup Riskified becomes on Tuesday Israel’s new unicorn company. Riskified has raised $165 million in funding at a valuation of more than $1 billion.

The Series E funding round led by global growth equity firm General Atlantic. Other investors included Fidelity Management & Research Company, Winslow Capital Management and previous backers of the company.

Founded in 2012 by Assaf Feldman and Eido Gal, Riskified has raised $229 million to date. The company has enjoyed a 250% compound annual growth rate over the past five years.

Riskified’s software helps e-commerce businesses secure their payment systems and guard against fraud

The company is described as a pioneer of chargeback-guarantee. In Riskified’s solution, every transaction approved by the company carries to get a full, money-back guarantee for the merchant in case of a fraud-related chargeback. All this while improving customer experience.

The company employs over 420 employees at its Tel Aviv and New York offices and is planning to open a Shanghai office before the end of the year.

The new capital will be used for product development and expansion into new markets, domestically and internationally, Riskified announced on Tuesday.

Read more about: , ,

Leave a Reply

Your email address will not be published. Required fields are marked *