Fraud Prevention Tech Startup Forter Raises $50M
Israeli-founded anti-fraud tech company Forter announced on Wednesday that it raised $50 million in a Series D funding round led by March Capital Partners with participation from Salesforce Ventures and previous investors Sequoia Capital, New Enterprise Associates (NEA) and Scale Venture Partners.
The funding round is Forter’s largest to date and brings the total amount raised by the company to $100 million.
Forter is a leading e-commerce fraud prevention company that protects merchants during each stage of the customer lifecycle, using an identity-based fraud prevention solution which detects instances of fraud and abuse beyond transactions in real-time, such as attempts at account takeover and return abuse, the company says.
Forter said in a company statement that the funds “will fuel the expansion of its AI-powered, real-time fraud prevention platform.”
“Fraud is an ever-shifting problem,” said Michael Reitblat, Forter co-founder and CEO. “To get ahead of the curve and support our retail customers in whichever new experiences they want to offer consumers, we plan to double our already massive investment in research and development, expand our global coverage and facilitate further collaboration in the e-commerce and payments ecosystem.”
Headquartered in New York, Forter maintains a development center in Tel Aviv. It was founded in 2013 by Reitblat, COO Liron Damri and Chief Analyst Alon Shemesh.