The company has revealed plans to use the additional financing to continue its global expansion in context-based security and fraud prevention. Specifically, the financing will enable ThreatMetrix to do the following:
• Broaden the reach of The Network, which currently analyzes more than 500 million transactions each month and protects over 160 million active user accounts across 2,500 customers and 10,000 websites;
• Build new capabilities in the TrustDefender Cybercrime Protection Platform;
• Upgrade its frictionless context-based authentication solutions, which enables enterprises to establish trust for each account login based on fully anonymous user identity, device usage, geolocation, behavior and other factors without compromising user identity or workforce efficiency;
• Increase mobile cybersecurity to protect the rising number of mobile transactions across industries. In 2013, mobile represented one-third of all transactions on The Network and this number is projected to reach 50% by the end of 2014;
• Expand into new markets, including enterprise security, healthcare, gaming and insurance;
• Continue its expansion in European and Asian markets in addition to continued growth in North America.
In a 12-month period ending September 2013, more than USD 1.4 billion were invested into the cybersecurity market, up 29% over the previous year.
ThreatMetrix serves a global customer base across a variety of industries, including financial services, e-commerce, payments, social networks, government and healthcare.
For more information about ThreatMetrix, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.
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