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5 startups using machine learning and behavioral biometrics to fight fraud

1. 5/28/2018 5 Startups Using Machine Learning And Behavioral Biometrics To Fight Fraud…
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  • 1. 5/28/2018 5 Startups Using Machine Learning And Behavioral Biometrics To Fight Fraud https://www.cbinsights.com/research/fraud-prevention-machine-learning-biometric-startups/ 1/7 RESEARCH BRIEF March 28, 2017 5 Startups Using Machine Learning And Behavioral Biometrics To Fight Fraud Arti cial Intelligence Cybersecurity Trends     Accel Partners backed two of the fraud- ghting companies featured below. WHERE IS THIS DATA COMING FROM? Start your free trial today SIGN UP Machine learning and behavioral biometrics are emerging as powerful tools to ght fraud in online transactions. These tools are helping organizations from banks to e-commerce platforms get better at hunting down those who seek to bene t from faking their identity online, allowing them to move beyond pre-set triggers for identifying fraud and incorporating machine learning software that can sift through vast amounts of data faster than human analysts. Behavioral biometrics use unconscious behaviors such as typing rhythm or browsing speed to verify a user’s identity. These types of behaviors are very di cult for fraudsters to fake, but to identify fraud using these parameters, computers must sift through a vast amount of data. Applying machine learning software to biometric behavioral data means systems can learn which data points from a collection of millions are signi cant when detecting fraud and which are Email
  • 2. 5/28/2018 5 Startups Using Machine Learning And Behavioral Biometrics To Fight Fraud https://www.cbinsights.com/research/fraud-prevention-machine-learning-biometric-startups/ 2/7 benign. Combining behavioral biometrics and machine learning alongside rules-based systems results in the most advanced forms of online fraud detection available today. BLOCKCHAIN AND IDENTITY: BUILDING A NEW INTERNET From data privacy to supply chains, decentralized user-controlled identity could fundamentally change how the internet works. We dive into blockchain and identity in this research brie ng. DOWNLOAD NOW Using CB Insights database we identi ed 5 cybersecurity startups to watch that are working on ghting fraud with a mix of behavioral biometrics and machine learning. We selected these private companies based primarily on CB Insights’ Mosaic scoring algorithm, which uses nancial and non- nancial signals to assess the health of private companies. 1. RAVELIN Ravelin offers a fraud detection and prevention platform that allows organizations that rely on online payments to automatically examine customer behavior in real-time and identify fraudsters before they do damage. Total Disclosed Funding: $5.72M Latest Funding Round: $3.6M Series A Select Investors: Passion Capital, Amadeus Capital, Playfair Capital    2. SIMILITY Email
  • 3. 5/28/2018 5 Startups Using Machine Learning And Behavioral Biometrics To Fight Fraud https://www.cbinsights.com/research/fraud-prevention-machine-learning-biometric-startups/ 3/7 TRACK ALL THE CYBERSECURITY STARTUPS IN THIS BRIEF AND MANY MORE ON OUR PLATFORM. Startups working on cybersecurity are gaining much more visibility as cyber threats increase. Sign up for a free trial and look for Cybersecurity in the Collections tab. Simility offers a fraud prevention platform which combines machine learning and data visualization technology with a rules engine to help protect enterprises from fraud. Total Disclosed Funding: $7.2M Latest Funding Round: $1.5M Seed Select Investors: Accel Partners, Array Ventures, Trinity Ventures, The Valley Fund  3. SHIFT TECHNOLOGY Shift Technology is a SaaS company designed to detect potential insurance fraud. The company’s software uses mathematical modelling and machine learning algorithms to help detect fraudulent claims. Total Disclosed Funding: $11.7M Latest Funding Round: $10M Series A Select Investors: Iris Capital, Accel Partners, LumenLab
  • 4. 5/28/2018 5 Startups Using Machine Learning And Behavioral Biometrics To Fight Fraud https://www.cbinsights.com/research/fraud-prevention-machine-learning-biometric-startups/ 4/7 Track cybersecurity startups 4. SOCURE Socure’s social biometrics solution helps organizations detect fraudulent users on websites and in mobile applications using machine learning algorithms. Total Disclosed Funding: $19.4M Latest Funding Round: $13M Series A Select Investors: Two Sigma Ventures, Santander InnoVentures, ff Venture Capital  5. SIFT SCIENCE Sift Science provides machine learning software that automatically learns and detects fraudulent behavioral patterns, alerting businesses before they or their customers are defrauded. Beyond this, CYBERSECURITY STARTUPS CLONE
  • 5. 5/28/2018 5 Startups Using Machine Learning And Behavioral Biometrics To Fight Fraud https://www.cbinsights.com/research/fraud-prevention-machine-learning-biometric-startups/ 5/7 the company has also launched a new set of products designed to detect and mitigate additional types of fraud and abuse. Total Disclosed Funding: $53.5M Latest Funding Round: $30M Series C Select Investors: Y Combinator, Union Square Ventures, Spark Capital Want more data on high-momentum cybersecurity startups? Log in to CB Insights or sign up for free below. YOU MIGHT ALSO LIKE: From Drug Discovery To Diagnostics: 100 Arti cial Intelligence Startups Transforming Healthcare Looking To Enter The AI Race? Be Prepared To Hand Out Some Hefty Equity AI In Healthcare Heatmap: From Diagnostics To Drug Discovery, Deals Heats Up RESEARCH SIGN UP JOIN 400,000+ CB INSIGHTS NEWSLETTER READERS Email
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