Signifyd

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Signifyd
Private company
Industry
  • Internet fraud prevention
  • E-Commerce
FoundedJune 11, 2011; 10 years ago (2011-06-11) in United States
Headquarters
  • San_Jose,_California
  • San Jose, United States
  • New York City, United States
  • Denver, United States
  • Belfast, United Kingdom
  • London, United Kingdom
Key people
  • Rajesh Ramanand (founder)
  • Michael Liberty (co-founder)
Products
  • Fraud analytics
  • Fraud prevention
  • Chargeback prevention
Number of employees
201 to 500 (2020)
Websitewww.signifyd.com

Signifyd is privately held company that provide software as a service (SaaS) as a fraud prevention technology company to online retailers and marketplaces.[1] It has its headquarters in New York and their Global Research and development|R&D Center in Belfast.[2][3] Signifyd was founded in 2011 by Rajesh Ramanand and Michael Liberty who both used to work for PayPal.[4][5]

The Signifyd products work by identifying fraudulent transactions using machine learning and manual review done by fraud experts.[6][7] If a transaction is marked as safe, Signifyd takes financial liability if a fraudulent chargeback where to occur.[8]

History

In 2011 Rajesh Ramanand founded the company with a colleague from PayPal, Michael Liberty. Michael Liberty was the manager of new ventures risk at PayPal before joining Signifyd.[9] Ramanand was the head of risks on PayPal’s Emerging Market team before he resigned to co-found Signifyd.[10]

The founders original idea for Signifyd was to create a service to prevent, score and detect abusive content and account creation as early as 2010. There was also shown information around preventing offensive content and harassment.[11] However this idea was later ditched to focus on just preventing fraudulent transactions.

Signifyd originally just provided a investigation tool where merchants provided basic transaction details, then Signifyd would enrich the data and give a score, but not provide a financial guarantee.[12][13] In 2015 Signifyd expanded their services to include a financial guarantee also names Guaranteed Payments using their machine learning decisions.[14]

Funding

Signifyd funding is a combined $180 million with its last founding Series D on May 31, 2018.[15]

Funding Rounds
Name Money Raised Announced Date
Series D $100,000,000 May 30, 2018[16]
Series C $56,000,000 May 4, 2017[17]
Series B $20,000,000 Feb 25, 2016[18]
Series A $7,000,000 Jun 22, 2015[19]
Seed round $2,000,000 Dec 19, 2012[20]


References

  1. "Signifyd raises $56 million for e-commerce fraud protection". TechCrunch. Retrieved 2020-09-27.
  2. "Signifyd Sees Accelerated Innovation With Expansion of Global R&D Centre in Northern Ireland". irish tech news. 2019-11-19. Retrieved 2020-09-27.
  3. "G2 Crowd Names Signifyd the Leader in Customer Satisfaction in the Fraud Protection Market". www.businesswire.com. 2019-04-10. Retrieved 2020-09-27.
  4. "Former PayPal executive's San Jose startup scores $100M to to fight e-commerce fraud". www.bizjournals.com. Retrieved 2020-09-27.
  5. "Ex-PayPal execs' e-fraud startup scores $56M, plans to doubleå workforce". www.bizjournals.com. Retrieved 2020-09-27.
  6. "Signifyd: Product Overview and Insight". eWEEK. Retrieved 2020-09-27.
  7. "Signifyd Launches New Machine Learning Solution to Enhance Authorization-Stage Order Approvals for Enterprise Retailers". www.businesswire.com. 2020-06-02. Retrieved 2020-09-27.
  8. "Signifyd, CTI Digital and supercharged help merchants provide abuse and fraud protection". Help Net Security. 2020-09-08. Retrieved 2020-09-27.
  9. "Mike Liberty – DDNA 2019". Retrieved 2020-09-27.
  10. "40 Under 40: Rajesh Ramanand of Signifyd". www.bizjournals.com. Retrieved 2020-09-27.
  11. "Signifyd products". web.archive.org. 2010-12-13. Archived from the original on 2010-12-13. Retrieved 2020-09-27.
  12. Carter, Eric (2013-12-23). "Signifyd API Adds Fraud Prevention to Ecommerce Platforms". ProgrammableWeb. Retrieved 2020-09-27.
  13. "Signifyd | A Simple, Fast, and Powerful Fraud Investigation Tool". web.archive.org. 2013-04-05. Archived from the original on 2013-04-05. Retrieved 2020-09-27.
  14. "Signifyd Named to Forbes 50 Innovative Fintech List". Signifyd. 2016-11-08. Retrieved 2020-09-27.
  15. "Funding Rounds". crunchbase.
  16. "Signifyd Secures $100M in Series D Funding, Opens First International Office in Barcelona to Scale the European Market". www.businesswire.com. 2018-08-03. Retrieved 2020-09-27.
  17. "Signifyd, Market Leader for E-Commerce Guaranteed Fraud Protection, Secures $56 Million in Series C Funding Led by Bain Capital Ventures". www.businesswire.com. 2017-05-04. Retrieved 2020-09-27.
  18. "Signifyd Raises $20 Million in Series B Funding to Ensure E-Commerce Merchants Never Pay a Chargeback Again". www.businesswire.com. 2016-02-25. Retrieved 2020-09-27.
  19. Penn, David (2015-06-22). "Signifyd Raises $7 Million in Series A Investment". Finovate. Retrieved 2020-09-27.
  20. "Signifyd Raises $2M From Andreessen Horowitz And Others To Help Online Businesses Use Data To Prevent Payments Fraud". TechCrunch. Retrieved 2020-09-27.

This article "Signifyd" is from Wikipedia. The list of its authors can be seen in its historical. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace.