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Cybersecurity Funding

Online Fraud Prevention Startup SEON Raises $94 Million

Online fraud prevention startup SEON today announced that it has closed a $94 million Series B funding round that brings the total investment in the company to $107 million.

The funding round was led by IVP, with additional investment from Creandum and PortfoLion, as well as several angel investors.

Online fraud prevention startup SEON today announced that it has closed a $94 million Series B funding round that brings the total investment in the company to $107 million.

The funding round was led by IVP, with additional investment from Creandum and PortfoLion, as well as several angel investors.

Founded in 2017, the London-based firm claims to take a GDPR-compliant approach to establishing a user’s digital footprint based on their email, phone number, IP address, or real-time location.

[ READ: Cloud Security Startup DoControl Raises $30 Million ]

SEON’s platform leverages machine learning to help organizations detect fraud in real time and accept more transactions.

SEON, which currently has offices in Austin (TX), Budapest, Jakarta, London, and Singapore, plans to use the new investment to expand its presence in the Americas and APAC regions, build new partnerships, and improve the functionality of its platform.

Related: MDR Provider Critical Start Lands $215 Million Growth Investment

Related: Silverfort Banks $65 Million for Identity Threat Protection Platform

Related: Blockchain Security Firm CertiK Raises $88 Million at $2 Billion Valuation

Written By

Ionut Arghire is an international correspondent for SecurityWeek.

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