BillGuard, a New York and Israel-based personal finance security company, has secured $10m in second financing.
The round was led by Khosla Ventures, with participation from Founders Fund, Innovation Endeavors and existing investors Bessemer Venture Partners and IA Ventures.
The company intends to use the funds to support marketing, business development, sales and R&D expansion.
Launched in May 2011 by CEO Yaron Samid and big-data expert Raphael Ouzan, BillGuard employs a crowdsourced approach to identify deceptive, erroneous and unauthorized charges on credit card bills.
Harnessing the collective knowledge of millions of consumers reporting billing complaints online and in their electronic statements, the free, web-based consumer service scans user’s credit and debit card activity daily and alerts them to hidden charges, billing errors, misleading subscriptions, scams and fraud.