Riskified, a NYC-based payments and fraud-prevention solutions provider, raised $165m in Series E funding at a valuation of more than $1 billion.
The round was led by General Atlantic.
The company intends to use the funds to scale its business domestically and internationally and to expand its product footprint.
Led by Eido Gal, CEO, Riskified provides payments and fraud-prevention solutions for brands – from airlines to luxury fashion houses to gift card marketplaces – to increase revenue, manage risk and enhance their customer experience. The company uses machine-learning algorithms to recognize legitimate customers and keep them moving toward conversion. The solutions also increase bank authorization rates, protect customer accounts from misuse, and allow merchants to offer shoppers alternate payment methods.
Riskified analyzes transactions from 235 countries and territories on all 7 continents.
The company has 420+ employees in New York and Tel Aviv and will have a new office in Shanghai before the end of 2019.