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E-commerce security startup Forter lands $3M in funding from Sequoia Capital
From: InfoSec News <alerts () infosecnews org>
Date: Wed, 26 Mar 2014 05:07:30 +0000 (UTC)
By Larry Barrett
Between the Lines
March 25, 2014
Forter, an Israeli security startup that provides online retailers with
real-time e-commerce fraud prevention services, secured $3 million in
Series A funding from Menlo Park, Calif.-based venture capital firm
In the wake of catastrophic security breaches at major retailers,
including Target and Neiman Marcus among many, many others, retailers
online and off are scrambling to find more holistic and comprehensive
security applications and processes to safeguard their customers' credit
and debit card accounts.
Forter's founders, including CEO Michael Reitblat, first became acquainted
with the prowess of behavioral data and cyber intelligence technology as
intelligence officers in the Israeli Defense Force, before they went on to
start Fraud Sciences, a fraud prevention company that was eventually
acquired by PayPal in 2008 for $169 million.
Forter's plug-and-play technology automates the review process by
instantly analyzing customers' profile and behavioral data in real time
rather than relying on customer-provided data—which is often easy to
falsify -- to approve transactions.
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- E-commerce security startup Forter lands $3M in funding from Sequoia Capital InfoSec News (Mar 26)