Riskified, a Tel Aviv, Israel and NYC-based e-commerce fraud-prevention solution, secured an additional $33m in growth stage funding.
The round, which brought total funding to $64m, was led by Israeli-based Pitango Growth, with participation from Capital One Growth Ventures, Groupe Arnault, the controlling shareholder of LVMH, C4 Ventures, Qumra Capital, The Phoenix Insurance Company, and Genesis Partners. In conjunction with the funding, Aaron Mankovski, managing general partner, Pitango Growth, will be joining Riskified’s board of directors.
The company plans to use the funds to accelerate market penetration, solidify its position as the market leader and serve new merchants internationally.
Led by Eido Gal, co-founder and CEO, Riskified provides a machine learning powered behavioral analytics platform that protect merchants from fraud while to providing a better customer experience, lowering overhead and maximizing their revenue.
The platform, used by Foot Locker, Simplehuman, Macy’s, among others, has reviewed hundreds of millions of transactions and approved billions of dollars of revenue for merchants across virtually all industries, including a number of Fortune 500 companies.