Riskified Completes $165 Million Funding Round
Riskified, which protects merchants from fraud using machine learning based algorithms, announced it completed its latest funding round.
The Series E funding round netted $165 million, led by General Atlantic. This new funding round helps the company’s valutation top $1 billion, according to Riskified.
“We’ll use these funds to accelerate our product development and further expand our geographic footprint,” said Edio Gal, CEO and co-founder of Riskified, in a blog post. “We’ll be able to offer even more solutions that help merchants drive revenue and deliver a better customer experience. The new clients and partners that we onboard and the new products we deliver will, in turn, increase our accuracy and improve our performance.”
The company’s machine learning algorithm, proprietary behavioral analytics and its growing network helps protect merchants from fraudulent activity while boosting their revenue. Riskified reviewed hundreds of millions of transactions and approved billions of dollars in revenues for merchants regardless of industry. It counts Foot Locker, Macy’s, Wayfair, Prada, Ring and other retailers among its customers.