Forter, a NYC-based e-commerce fraud prevention company, raised $125m in Series E funding.
The round, which brought Forter’s valuation to over $1.3 billion, was led by Bessemer Venture Partners, Felix Capital and Itai Tsiddon, with participation from Sequoia Capital, NewView Capital, Scale Venture Partners, March Capital Partners and Commerce Ventures.
The company intends to use the funds to expand its suite of solutions and global data network.
Led by Michael Reitblat, CEO and Co-founder, Forter provides a real-time, fully automated fraud prevention platform used by top merchants from all commerce verticals including ASOS, Boohoo, Sephora, Hugo Boss and Adobe. The company’s global network provides a comprehensive view of both fraudulent and legitimate customer behaviors, allowing accurate fraud decisions with enhanced customer experience.
Over the past year, Forter has driven product innovation and extended its partner ecosystem to protect merchants and consumers across the entire e-commerce experience, including:
- Loyalty Program Fraud Protection that secures against account takeover (ATO), new account fraud, transactional fraud and policy abuse; Returns Abuse Protection to identify and stop returns abusers; and Smart Routing, which provides automated payment routing decisions to eliminate false declines and reduce lost revenue by 50%.
- Fraud Prevention Platform for Payment Service Providers (PSPs), enabling PSPs including FreedomPay, FIS Worldpay, Global Payments and Checkout.com to provide the best fraud prevention to their merchants.
- Partnerships and integrations with leaders in the broader e-commerce ecosystem including Mastercard, SAP, Salesforce and Adobe to increase approval rates and eliminate fraud throughout the entire consumer journey.