Simility, a Palo Alto, CA-based vendor of adaptive fraud prevention solutions, raised $3.45m in seed funding.
The round was led by Accel Partners.
The company intends to use the funds for expansion of its data science, engineering, marketing and sales teams as it prepares to launch its public product early next year.
Founded in 2014 and led by Rahul Pangam, CEO, Simility provides a cloud-based adaptive fraud prevention solution that combines machine learning with human analysis to detect a wide range of fraudsters’ evolving tactics.
The company is currently in private beta with several customers.