Total amount raised
$226 Millions
Latest funding date
May, 2018
Location
Signifyd has successfully raised significant funding over multiple rounds, with its latest Series E round closing on April 15, 2021. The company specializes in providing enterprise-grade fraud technology solutions for e-commerce stores.
Keep reading to explore the intricacies of Signifyd's fundraising journey and the investors backing this innovative platform.
What Is Signifyd?
Signifyd, founded in August 2011 by Mike Liberty and Rajesh Ramanand, is headquartered in San Jose, California. The company specializes in providing enterprise-grade fraud technology solutions for e-commerce stores, helping businesses grow by preventing fraud and increasing conversion rates.
With a workforce of 501-1000 employees, Signifyd offers a Commerce Protection Platform that includes solutions for fraud protection, abuse prevention, account protection, seamless SCA, and payments optimization. This platform aims to maximize conversion rates, eliminate fraud and abuse, and provide a smooth purchasing experience.
Signifyd's innovative approach simplifies fraud detection through a financial guarantee, allowing businesses to increase sales while reducing fraud losses. The company continues to be a leader in the e-commerce fraud prevention space.
How Much Funding Has Signifyd Raised?
- Seed Round
- Amount Raised: $2M
- Date: December 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and validate the market need for fraud protection solutions.
- Series A
- Amount Raised: $7M
- Date: June 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the team and enhance the fraud detection technology.
- Series B (First Round)
- Amount Raised: $20M
- Date: February 2016
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve the Commerce Protection Platform.
- Series B (Second Round)
- Amount Raised: $19M
- Date: September 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and support customer acquisition.
- Series C
- Amount Raised: $56M
- Date: May 2017
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series D
- Amount Raised: $100M
- Date: May 2018
- Lead Investors: Premji Invest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and support international expansion.
- Series E
- Amount Raised: $205M
- Date: April 2021
- Lead Investors: Owl Rock Capital
- Valuation at Round: $1.34 billion
- Motivation Behind the Round: To capitalize on increased demand for fraud protection and expand globally.
Total Amount Raised: $409M. Current Valuation: $1.34 billion.
Key Investors
- Owl Rock Capital
- Details: Owl Rock Capital is a New York-based investment firm specializing in direct lending to middle-market companies. They provide growth-equity financing to help businesses expand and achieve their strategic goals.
- Investment Focus Areas: Middle-market companies, direct lending, growth-equity financing.
- Notable Investments: Not publicly disclosed.
- Premji Invest
- Details: Premji Invest is the investment arm of Azim Premji, focusing on growth-stage companies across various sectors. They aim to support businesses with strong growth potential and innovative solutions.
- Investment Focus Areas: Growth-stage companies, technology, healthcare, consumer goods.
- Notable Investments: Not publicly disclosed.
- Bain Capital Ventures
- Details: Bain Capital Ventures is a leading venture capital firm that invests in early to growth-stage companies. They focus on technology and healthcare sectors, providing strategic support to their portfolio companies.
- Investment Focus Areas: Technology, healthcare, fintech, enterprise software.
- Notable Investments: Not publicly disclosed.
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that invests in early-stage to growth-stage technology companies. They have a long history of supporting innovative startups and helping them scale.
- Investment Focus Areas: Technology, consumer internet, enterprise software, healthcare.
- Notable Investments: Not publicly disclosed.
- Canada Pension Plan Investment Board (CPP Investments)
- Details: CPP Investments is a professional investment management organization that invests the funds of the Canada Pension Plan. They focus on long-term investments across various asset classes.
- Investment Focus Areas: Public equities, private equities, real estate, infrastructure, fixed income.
- Notable Investments: Not publicly disclosed.
What's Next for Signifyd?
As Signifyd looks to the future, the opportunities are vast. The surge in e-commerce during the pandemic has heightened the demand for AI-based fraud protection, positioning Signifyd to expand its Commerce Protection Platform globally. With a recent $205 million funding round, the company is well-equipped to grow in digital shopping and payments sectors, particularly in Latin America and EMEA regions.
Future fundraising opportunities appear promising, given the strong investor confidence and the company's current valuation of $1.34 billion. However, challenges such as competition from other fraud protection providers and the need to continuously innovate to keep up with evolving fraud tactics remain. Ensuring scalability and reliability as they expand will be crucial for sustained success.
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