Signifyd, a Palo Alto, CA-based provider of a risk and fraud prevention platform, has raised $2m in financing.
The company intends to use the capital to expand its engineering team (it is looking for engineers with payments or machine learning backgrounds) and accelerate product development.
Founded in 2011 by a team of risk experts from PayPal including CEO Raj Ramanand and Michael Liberty, Signifyd helps online businesses prevent payment fraud via a full-service payment validation platform. The company works across verticals, with signatures of typical customer behavior in travel, digital goods, premium merchandise, and shipping.
Since launch, Signifyd has processed millions of events from its Beta customers, which include Fortune 100 companies and leading e-commerce sites.