Forter, a San Francisco, CA-based fraud prevention company, closed a $32m Series C funding.
The round was led by Scale Venture Partners, with participation from previous investors Sequoia Capital and New Enterprise Associates (NEA). In conjunction with the funding, Scale Venture Partners’ Rory O’Driscoll joined Forter’s Board of Directors.
The company intends to use the funds to expand throughout the U.S., as well as accelerate its fraud prevention platform.
Led by Michael Reitblat, CEO, Forter provides online merchants with a SaaS-based automated, real-time fraud prevention solution which leverages machine learning technology that combines cyber intelligence with behavioral and identity analysis to create a multi-layered fraud detection mechanism.
It is backed by a fraud chargeback guarantee with instant, guaranteed approve/decline decisions for every transaction.