NY-FORTER
19.11.2020 17:02:10 CET | Business Wire | Press release
Forter , the leader in e-commerce fraud prevention, today announced it has raised $125 million in Series E funding. Led by Bessemer Venture Partners, Felix Capital and Itai Tsiddon, with participation from Sequoia Capital, NewView Capital, Scale Venture Partners, March Capital Partners and Commerce Ventures, the round propels Forter’s valuation to over $1.3 billion.
The funding will allow Forter to accelerate its vision of establishing an ecosystem of trust across online merchants, banks and payment providers to block fraud and give consumers the trust and convenience to shop freely. The company will continue to expand its suite of solutions and global data network, which has doubled in size over the last 12 months to exceed $200 billion in annual online transactions protecting over 800 million shoppers.
“We set out to create a global coalition of merchants, banks and payment providers that fight fraud together. We continue on our mission to expand the online network of trust and will continue investing in our platform in collaboration with our customers and partners,” said Michael Reitblat, CEO and Co-founder, Forter. “This year we have doubled our team across eight global offices, doubled our revenue and enjoyed our first cash flow positive quarter. The market traction we have experienced allows us to invest even more into our platform and drive more significant impact for our customers and partners. We will remain an independent company as we continue to grow our footprint across the commerce ecosystem.”
Forter’s real-time, fully automated fraud prevention platform is trusted by numerous top merchants from all commerce verticals including ASOS, Boohoo, Sephora, Hugo Boss and Adobe. The company’s global network provides a comprehensive view of both fraudulent and legitimate customer behaviors, allowing incredibly accurate fraud decisions with enhanced customer experience.
Over the past year, Forter has driven product innovation and extended its partner ecosystem to protect merchants and consumers across the entire e-commerce experience, including:
- Loyalty Program Fraud Protection that secures against account takeover (ATO), new account fraud, transactional fraud and policy abuse; Returns Abuse Protection to identify and stop returns abusers; and Smart Routing , which provides automated payment routing decisions to eliminate false declines and reduce lost revenue by 50%.
- Fraud Prevention Platform for Payment Service Providers (PSPs) , enabling PSPs including FreedomPay , FIS Worldpay , Global Payments and Checkout.com to provide the best fraud prevention to their merchants.
- Partnerships and integrations with leaders in the broader e-commerce ecosystem including Mastercard, SAP, Salesforce and Adobe to increase approval rates and eliminate fraud throughout the entire consumer journey.
“Companies that can allow global organizations to safely embrace and accelerate their digital transformation and increase the lifetime value of their online consumers are invaluable as e-commerce continues to climb,” said Elliott Robinson, a partner at Bessemer Venture Partners. “Forter has turned fraud prevention into a business enabler by uniting the entire digital economy ecosystem to fight fraud together and let people shop safely.”
The impact customers experience with Forter includes:
- 75% reduction in false positives
- 60% reduction in fraud
- Fully automated, real-time decisions across the entire consumer journey
"Working with Forter has changed our approach to fraud management, drastically improving our approval rate, and helping build greater trust in our fraud capabilities,” said Kristina Blahnik, CEO, Manolo Blahnik. “We can now provide a more positive, seamless experience for our clients as well as strengthening our e-commerce; priorities which are paramount for Manolo Blahnik."
About Forter
Forter is the leader in e-commerce fraud prevention, processing over $200 billion in online commerce transactions and protecting over 800 million 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.
Forter’s integrated fraud prevention platform is powered by its rapidly growing Global Data Network, underpinned by predictive fraud research and modelling, and the ability for customers to tailor the platform for their specific needs. As a result, Forter is trusted by Fortune 500 companies to deliver exceptional accuracy, a smoother user experience, and elevated sales at a much lower cost. Forter was recently named the Leader in e-Commerce Fraud Prevention by Frost & Sullivan.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201119005873/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Fortegra Appoints Guy House as SVP, Treaty Reinsurance27.10.2026 10:00:00 CET | Press release
The Fortegra Group, Inc. ("Fortegra" or the "Company"), a global specialty insurer and part of DB Insurance Co., Ltd., has appointed Guy House as Senior Vice President, Treaty Reinsurance. In this role, he will lead Fortegra’s treaty reinsurance underwriting strategy from the Company’s UK office. Mr. House brings more than 18 years of London market experience. He has written and bought reinsurance across multiple product lines and tiers, including property, marine, energy, terrorism and aviation. His expertise spans treaty and retrocession reinsurance, direct and facultative (D&F) insurance, exposure management, alongside capital raising and management. Previously, Mr. House was Head of Property at Tamesis Dual, having joined from Markel International where he worked as the Senior Property D&F Underwriter. He is ACII qualified and holds a degree in Economics from Durham University. About Fortegra For more than 45 years, Fortegra, via its subsidiaries, has underwritten risk management s
TetraMem Advances Analog In-Memory Computing with Tapeout of New 12nm AI SoC27.10.2026 09:41:00 CET | Press release
Leveraging Synopsys cloud-enabled EDA solutions to scale multi-level RRAM-based AI chip development to advanced FinFET nodes TetraMem, a Silicon Valley-based pioneer in analog in-memory computing (A-IMC), announced the successful tapeout of MLX300, the world’s first 12nm A-IMC system-on-chip (SoC) based on multi-level RRAM technology. The SoC was developed using industry-leading EDA solutions enabled through Synopsys Cloud FlexEDA, and this milestone represents a major step in bringing this architecture toward advanced-node, production-ready computing. “TetraMem’s architecture represents a fundamentally new approach to AI computing by converging memory and compute together,” said Glenn Ge, CEO and Co-founder of TetraMem. “Leveraging Synopsys EDA solutions through Synopsys Cloud have been instrumental in enabling efficient global collaboration and accelerating our path from research innovation to manufacturable silicon.” The MLX300 tapeout follows TetraMem’s recently announced MLX200/ML
Exeon Analytics Introduces AgentGuard for Visibility and Threat Detection Across AI Use and Agent Activity27.10.2026 09:30:00 CET | Press release
Exeon.AgentGuard helps organizations identify approved and shadow AI use, investigate potential data leakage and detect unusual activity across AI agents, applications, tools and external resources. Exeon Analytics today introduced Exeon.AgentGuard, a new AI security solution designed to give organizations visibility into approved and shadow AI use, autonomous agent activity and the data flows created through connected tools and external services. Building on its expertise in AI-driven behavioral analytics and threat detection, Exeon expands its cybersecurity capabilities to address emerging risks associated with the rapid adoption of agentic AI. Bringing visibility, addressing data leakage and rogue AI agent behavior As enterprises increasingly adopt AI agents, maintaining visibility into their activities becomes critical. Whether operating autonomously or on behalf of employees, organizations need to understand what AI agents are doing, which systems and data they access, and how the
Former Nokia Technologies C-suite Executive Joins Sisvel to Lead Creation of New Ventures Unit27.10.2026 09:04:00 CET | Press release
Stavros Kyris has joined Sisvel to lead the formation of Sisvel Ventures, which has a wide-ranging remit to explore opportunities outside of Sisvel’s core areas of business. Kyris previously held a number of senior roles at Nokia and from 2019 until earlier this year was Chief Strategy, Financial and Operating Officer of Nokia Technologies. Before that, he spent five years as Chief of Staff to Nokia’s CEO, having formerly worked in corporate business development, strategy and M&A at the company. Sisvel Ventures will identify and develop IP-based business projects that do not sit within Sisvel’s established standard essential patent (SEP) pool licensing operation. It will draw on expertise within the broader company while functioning separately from it. Senior Sisvel executives Matteo Sabattini and Leonardo Saroni will join Kyris in building the new unit. “Sisvel Ventures is an exciting endeavour that I am delighted to help launch,” says Kyris. “Sisvel has a reputation for its bold, ent
Ant Group Upgrades LingGuang to 2.0, Turning Its AI Assistant into a Proactive Personal Agent27.10.2026 09:00:00 CET | Press release
Ant Group today announced the launch of LingGuang 2.0, an upgrade that transforms its multimodal AI assistant into a proactive personal agent capable of identifying user needs and managing tasks over time. Moving beyond passive, single-turn interactions, LingGuang 2.0 shifts AI assistance from responding to commands toward continuously identifying needs, following up on tasks, and coordinating everyday affairs on behalf of users. Unlike conventional conversational AI and task-oriented agents, LingGuang 2.0 moves the starting point of AI assistance earlier in the user’s workflow. Instead of waiting for users to issue a command, LingGuang can, with explicit user authorization, draw on connected information and services to spot potential needs, initiate analysis and follow-ups, and alert users when their attention is required. In this way, it evolves from a reactive tool into a personal agent that continuously manages tasks on the user’s behalf. This shift is powered by comprehensive upgr
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom