Signifyd has announced they raised an additional USD 56 million in Series C financing for ecommerce fraud protection.
The company plans to expand its team of engineers and fraud experts to scale its machine learning-enabled Guaranteed Fraud Protection for merchants. This investment will allow Signifyd to expand its services across the US, Europe, and Asia.
Bain Capital Ventures led the funding with American Express Ventures, Menlo Ventures, and other investors participating.
Signifyd currently has plugins for Shopify, BigCommerce, Magento, and DemandWare. It also offers a fully documented API for other platforms.
Signifyd is a SaaS-based, enterprise-grade fraud technology solution for ecommerce stores, providing learning capabilities and allowing merchants to eliminate manual order reviews and financial losses resulting from fraud.
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