California startup Bolster, Inc. has raised $15 million in venture capital funding to build a fraud prevention platform for businesses.
The early-stage funding round was led by Cervin, Liberty Global Ventures, and Cheyenne Ventures with participation from previous investors Thomvest Ventures and Crosslink Capital.
Bolster has so far raised approximately $40 million to build technology to automate the discovery of online fraud and counterfeit activity targeting global brands.
The company and its investors are betting there are profits in the automated digital risk protection category. Bolster says its tools can be used to detect, monitor, and take down fraudsters on the Internet at a fraction of the time and operational cost of alternative options.
Bolster’s platform offers capabilities for domain monitoring and takedowns, social media tracking and takedowns, and the monitoring of app stores for brand infringements.
The company lists Dropbox, LinkedIn, Booking.com and Uber among its customer base.
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Ryan Naraine is Editor-at-Large at SecurityWeek and host of the popular Security Conversations podcast series. He is a security community engagement expert who has built programs at major global brands, including Intel Corp., Bishop Fox and GReAT. Ryan is a founding-director of the Security Tinkerers non-profit, an advisor to early-stage entrepreneurs, and a regular speaker at security conferences around the world.
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