The funding round was led by March Capital Partners with participation from Salesforce Ventures and previous investors Sequoia Capital, New Enterprise Associates (NEA) and Scale Venture Partners. The company leverages machine learning technologies, enhanced by human domain expertise, Israeli military intelligence and continuous research, to create a robust identity database, already covering more than 180 million US shoppers, according to the companys press release.
Today, with Forter’s data network effect, over 95% of transactions processed by the company are completed by consumers who interacted with the network before. This growing network continues to power a coalition of retailers against fraud. This includes Fortune 500 retailers, leading travel companies and fast-growing digital disruptors throughout the US, Europe, and Asia.
The funding round is Forter’s largest to date, bringing the company’s total financing to USD 100 million since its founding in 2013. The company also recently announced its expansion into Europe with the opening of its first UK office in London and is continuing to grow its management team and client base in the region.
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