Smyte, a San Francisco, CA-based online security startup, secured $4m in Series A funding.
The round was led by Avalon Ventures with participation from Baseline Ventures, Founder Collective, Harrison Metal, Upside Partnership and Y Combinator. In conjunction with the funding, Avalon Ventures Partner Rich Levandov has joined the Smyte Board of Directors.
A Y Combinator Winter 2015 graduate, The company has now raised $6.25m in total funding.
Founded in 2014 by Pete Hunt, Julian Tempelsman, and Josh Yudaken, Smyte leverages machine learning and human touch to identify potentially malicious activity based on known signals, such as commonly used account profile pictures and trigrams.
Customers use this info to eliminate scams, spam, credit card fraud, and other devious activities. Initially targeted peer-to-peer marketplaces and social apps – among the most common targets of scammers and spammers – the online security platform will also target SaaS providers, financial services companies and healthcare organizations.
Customers include GoFundMe, Meetup, Quora and TaskRabbit.
FinSMEs
28/03/2017