Feedzai, a San Mateo, California-based data science company that provides fraud prevention and detection solutions, secured $17.5m in Series B funding.
Backers included Oak HC/FT, Sapphire Ventures (formerly SAP Ventures) and Espirito Santo Ventures. In conjunction with the funding, Oak HC/FT’s Patricia Kemp and Jonathan Weiner, co-founder of Money20/20 and former Head of Global Business Development for Google Wallet and Payments, joined Feedzai’s board of directors.
The company intends to use the funds to expand sales and engineering teams. will join Feedzai in board of director roles.
Led by Nuno Sebastiao, CEO, Feedzai provides a real-time risk and fraud decision science platform to customers including First Data, Celfocus, Coca-Cola, Logica, Vodafone, Ericsson, and Servebase Credit Card Solutions.
In the last year, the company analyzed more than 18 billion transactions—equivalent to more than $760 billion in payment volume.
It has European offices in Lisboa, Portugal.