Signifyd, a San Jose, CA-based provider of fraud protection for e-commerce businesses, secured $19m in funding.
Backers included Menlo Ventures, TriplePoint Capital and American Express Ventures.
The company, which had raised $20m in Series B round in February 2016, intends to use the funds to scale its infrastructure and further optimize its machine learning technology.
Founded by ex-PayPal fraud and risk experts Raj Ramanand and Mike Liberty, Signifyd provides E-Commerce Assurance, a financial guarantee protecting online retailers in the case of chargebacks. The solution is supported by a full-service machine learning platform that automates fraud prevention allowing businesses to increase sales and open new markets while reducing risk.
Signifyd now serves over 5,000 e-commerce companies, including several Fortune 1000 retailers such as Jet.com, Lacoste, and Peet’s Coffee & Tea.