Sift Science, a San Francisco, CA-based provider of fraud prevention and risk management solutions using real-time machine learning (ML), raised $53m Series D funding.
The round, which brings the company’s total funding to $107m, was led by Stripes Group, with participation from prior investors Union Square Ventures, Insight Venture Partners and Spark Capital.
The company intends to use the funds to expand its global presence in the fraud detection and prevention market.
Launched in 2011 by CEO Jason Tan, Sift Science provides provides a cloud-based holistic solution that protects businesses from all vectors of fraud and abuse including payment fraud, account takeover, fake accounts and abusive user-generated content. The dynamic platform learns from user behavior across the Sift Science global digital trust network –– 6,000+ online properties and growing ––to score users’ trustworthiness in real time.
The company works in a number of vertical markets including physical and digital e-commerce, travel and hospitality, communities and marketplaces, financial institutions and payment processors, SaaS companies and beyond. Brands such as Twitter, Airbnb, Yelp!, Shutterstock, Jet, Indeed and Wayfair use the company’s platform.