October 8, 2010, 4:33 PM

ThreatMetrix lands $12.1 million in funding

The payment security services firm will use the money for marketing and product development.

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ThreatMetrix, which provides payment security services to online retailers, has received $12.1 million in its third round of funding. The company plans to use the money for general operating capital, to expand its product line and for sales and marketing.

The C Series round of financing was led by Tenaya Capital—formerly Lehman Brothers Ventures—a Silicon Valley venture capital firm. The vendor’s existing investors, which include U.S. Venture Partners, CM Capital and TVP, also contributed. Tenaya Capital has invested in several vendors that provide services to e-retailers, including site search and navigation technology vendor Endeca Technologies Inc. and software-as-a-service application integration vendor Cast Iron, which was acquired by IBM in May.

ThreatMetrix says it provides fraud prevention services to more than 250 businesses, many of them e-retailers. It also works with social networks and financial institutions. Online shopping rebate site Ebates.com uses software from ThreatMetrix to check if consumers arriving at Ebates.com are from one of the 10 million compromised computers tracked by the vendor.

In the past 18 months, ThreatMetrix has added e-retail clients including OnlineLabels.com and GoPro, an online retailer of wearable and gear-mountable cameras and accessories. It’s also expanded partnerships with resellers in China, Japan, India, France and Australia and expanded its customer base in Europe, North America, South America, Asia and Australia. ThreatMetrix recently opened a data center in the United Kingdom to meet what is says was increasing European customer demand. 

In March, ThreatMetrix launched a new version of its Fraud Network that can identify the computer operating system as well as the Internet protocol used to support an online transaction.

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