EverCompliant, a Tel Aviv, Israel-based cyber intelligence company, raised $9.5M in Series A funding.
The round was led by Arbor Ventures with participation from existing investors Carmel Ventures, StarFarm Ventures and Nyca Partners. In conjunction with the funding, Melissa Guzy of Arbor Ventures joined EverCompliant’s Board of Directors.
The company intends to use the funds to accelerate growth, including the opening of an office in Asia in 2017, an additional expansion in the U.S. and EU markets, and growth of its R&D operations.
Led by Ron Teicher, CEO, EverCompliant provides a transaction laundering detection and prevention platform. The company’s flagship product, MerchantView™, is a dedicated solution designed to detect and prevent transaction laundering by applying proprietary cyber intelligence technology to identify unknown and hidden merchants funneling transactions through legitimate storefront websites.
The technology has been adopted by large-scale financial institutions and payment service providers in Asia, Europe, U.S. and the Middle East, and is an approved MasterCard MMSP.
The company also has offices in New York City.