Signifyd

Signifyd is an American technology company that develops fraud protection and abuse prevention technology.[1] It is based in San Jose, California.[2

Signifyd
Signifyd
TypePrivate
IndustrySoftware
Founded2011; 15 years ago (2011) in Palo Alto, California, United States
FoundersRaj Ramanand
Mike Liberty
HeadquartersSan Jose, California
Area served
Worldwide
ProductsCommerce Protection Platform
ServicesFraud prevention software
Chargeback protection
Payments optimization
Abuse prevention
Websitesignifyd.com

Signifyd is an American technology company that develops fraud protection and abuse prevention technology.[1] It is based in San Jose, California.[2]

History

Signifyd was founded in 2011 by Raj Ramanand and Mike Liberty, former PayPal risk specialists.[3][4] In late 2012, the company raised $2 million in seed funding from investors including Andreessen Horowitz, Data Collective, IA Ventures, QED Investors, and Resolute Ventures.[5]

In 2013, Signifyd received the Merchant Risk Council's "Most Innovative Startup" award.[6] It later raised several funding rounds, including $7 million in Series A[7] and $20 million Series B funding in 2016.[8] A year later, in 2017, it raised $56 million in Series C funding led by Bain Capital Ventures.[9] In 2018, Signifyd raised $100 million in Series D funding and in the same year it opened its first European office in Barcelona.[10][11] In 2019, the company opened an office in Belfast as part of its European expansion.[12]

In April 2021, Signifyd reached a valuation of $1.34 billion after a $205 million Series E round led by Owl Rock Capital, with participation from FIS and CPP Investments.[13]

Operations

Signifyd is headquartered in San Jose, California with additional offices in the United States, Europe, and Latin America. In late 2019, Signifyd opened its first international research and development center in Belfast, Northern Ireland, to support product development in Europe.[14][15][16]

Technology

Signifyd develops a software-as-a-service commerce protection platform that uses machine learning and big data analytics to automate fraud screening, and reduce chargebacks.[17]

A core feature of the platform is a "ship-or-don't-ship" decision backed by a financial guarantee against fraud and consumer abuse.[18] Over time, the platform expanded beyond chargeback protection to include abuse prevention and payment optimization, including tools aimed at return fraud, policy abuse, and related forms of e-commerce abuse.[17][1]

References

  1. ^ a b https://www.fastcompany.com/3020019/signifyd-connecting-online-and-offline-data-to-detect-fraud
  2. ^ https://www.bloomberg.com/profile/company/0640208D:US
  3. ^ Gannes, By Liz (October 17, 2013). "Signifyd Fights Fraud With Online Sleuthing - WSJ" – via WSJ.
  4. ^ https://www.bloomberg.com/profile/person/19271767
  5. ^ Rao, Leena (December 19, 2012). "Signifyd Raises $2M From Andreessen Horowitz And Others To Help Online Businesses Use Data To Prevent Payments Fraud".
  6. ^ Penn, David (June 22, 2015). "Signifyd Raises $7 Million in Series A Investment".
  7. ^ "More New Money News for July 13 - WSJ". July 13, 2015 – via www.wsj.com.
  8. ^ Zakrzewski, By Cat (February 25, 2016). "Signifyd to Fight E-Commerce Fraud With $20M - WSJ" – via www.wsj.com.
  9. ^ Roof, Katie (May 4, 2017). "Signifyd raises $56 million for e-commerce fraud protection".
  10. ^ https://www.bloomberg.com/news/articles/2018-05-30/signifyd-scores-100-million-in-funding
  11. ^ Roof, Katie (August 6, 2018). "Bain Capital Ventures' Partner Guha Jumps to Signifyd" – via www.wsj.com.
  12. ^ https://apps.eurofound.europa.eu/restructuring-events/detail/97348
  13. ^ Castellanos, Sara (April 15, 2021). "E-Commerce Company Signifyd Raises $205 Million in Investor Funding" – via www.wsj.com.
  14. ^ https://www.belfasttelegraph.co.uk/business/jobs/us-software-firm-signifyd-to-create-150-jobs-in-belfast/37853337.html
  15. ^ "Silicon Valley tech company creates 150 new jobs in Belfast". February 25, 2019 – via www.bbc.com.
  16. ^ McDonnell, Francess. "California tech company to create 150 jobs in Belfast". The Irish Times.
  17. ^ a b Roof, Katie (September 8, 2016). "Signifyd raises $19 million to help with online fraud protection".
  18. ^ "Signifyd raises $205m in Series E featuring FIS". FinTech Futures.

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