Signifyd

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Signifyd
Private company
Industry
  • Internet fraud prevention
  • E-Commerce
FoundedJune 11, 2011; 12 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.{{cite web}}: CS1 maint: url-status (link)
  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.{{cite web}}: CS1 maint: url-status (link)
  5. ↑ "Ex-PayPal execs' e-fraud startup scores $56M, plans to doubleå workforce". www.bizjournals.com. Retrieved 2020-09-27.{{cite web}}: CS1 maint: url-status (link)
  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.{{cite web}}: CS1 maint: url-status (link)
  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.{{cite web}}: CS1 maint: url-status (link)
  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.{{cite web}}: CS1 maint: url-status (link)
  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.{{cite web}}: CS1 maint: url-status (link)
  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.

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