Sift, a San Francisco, CA-based fraud prevention company, acquired Chargeback, a Salt Lake City, UT-based SaaS dispute management provider.
The amount of the deal was not disclosed.
Through the acquisition, Sift provides a fraud prevention solution featuring protection across the entire transaction lifecycle. The deal follows Sift’s recent funding round that valued the company at over $1 billion.
Led by John Munro, CEO, Chargeback provides a SaaS-based platform for businesses to recover lost time and revenue while transforming any negative customer interaction into one that drives brand loyalty and increases acceptance rates. The solution in use by hundreds of companies worldwide.
Led by Marc Olesen, President & CEO, Sift dynamically prevents fraud and abuse through technology and expertise, and a global data network of 70 billion events per month. It is used by global brands such as Twitter, Airbnb, and Twilio.