Feedzai, a late-stage fintech startup, is the latest entrant into cybersecurity’s unicorn club after snagging a new $200 million funding round that values the company at more than $1 billion.
The San Mateo, Calif.- based Feedzai said the latest Series D round was led by KKR, one of the most prominent global investment firms. Existing investors Sapphire Ventures and Citi Ventures also participated.
KKR said the Feedzai investment was made through its Next Generation Technology Growth Fund II, a fund dedicated to growth equity investment opportunities in the technology space.
Feedzai sells a cloud-based financial risk management platform that combines AI/ML-based tools to help banks and other financial services firm to fight against online fraud.
The company said new money comes amidst rising demand for anti-fraud tools and capabilities. Feedzai says it monitors companies with more than 800 million customers in 190 countries, as well as four of the five largest banks in North America.
Feedzai joins a growing list of cybersecurity companies boasting billion-dollar valuations after banking new funding. The list includes ID.me, Orca Security, Aqua, Axonius, BigID, Coalition, Forter, Lacework, OwnBackup, Socure, Venafi and Wiz.