Simility, a Hyderabad, India, and Palo Alto, Calif.-based fraud prevention company, raised an additional $1.5m in first funding round.
The round was led by The Valley Fund (TVF).
The company, which has raised $7.2m in total, intends to use the funds to accelerate the growth of its business.
Founded in 2014 by Rahul Pangam, CEO, Simility has also launched the Simility Fraud Prevention Platform which combines advanced machine learning and data visualization technology with a customizable rules engine to protect SMBs and enterprise clients from sophisticated fraud and empower analysts to adapt to fraudsters’ evolving tactics.
In addition to the funding, the company, which is also backed by Accel Partners and Trinity Ventures, added Swastik Bihani as Vice President of Product Management.