Forter, a NYC-based e-commerce fraud prevention company that protects merchants during each stage of the customer lifecycle in real-time, secured $50m in Series D financing.
The round – which brought total financing to $100m since founding in 2013 – was led by March Capital Partners with participation from Salesforce Ventures and previous investors Sequoia Capital, New Enterprise Associates (NEA) and Scale Venture Partners.
The company intends to use the funds to expand its platform.
Led by Michael Reitblat, Co-founder and CEO, Forter provides an e-commerce fraud prevention platform which leverages machine learning technologies, enhanced by human domain expertise and continuous research, to create an expanding identity database, already covering more than 180M U.S. shoppers, for Fortune 500 retailers, travel companies and digital disruptors throughout the U.S., Europe, and Asia, to detect instances of fraud and abuse beyond transactions in real-time, such as attempts at account takeover and return abuse, remove them and improve the user experience for customers.
The company recently announced its expansion into Europe with the opening of its first UK office in London and is continuing to grow its management team and client base in the region.