Signifyd, a San Jose, CA-based provider of a platform to protect e-commerce businesses from fraud & chargebacks, closed $20m in Series B funding.
The round was led by Menlo Ventures, with participation from Allegis Capital, IA Ventures, QED Investors, Bill McKiernan and Tim Eades. In conjunction with the funding, Pravin Vazirani, a general partner at Menlo Ventures, will join Signifyd’s Board of Directors.
The company, which has raised $31m in total funding to date, will use the funds to accelerate growth, scale its infrastructure, and continue to expand its team of fraud experts.
Led by co-founder and CEO Rajesh Ramanand, Signifyd has created a cloud-based risk-assessment technology platform that leverages the data of the programmable web to protect of e-commerce merchants from credit card chargebacks.
The company currently serves more than 3000 customers including Fortune 1000 and Internet Retailer Top 500 list companies.