Online sales climbed 24% year over year, while Best Buy’s overall sales were flat.
The fraud prevention technology provider will expand its e-commerce offerings.
Fraud prevention technology vendor ThreatMetrix says it has raised $18 million in a funding round led by August Capital. Existing investors Tenaya Capital, US Venture Partners and CM Capital also took part.
ThreatMetrix will use the capital to continue its global expansion into e-commerce and other areas, says Reed Taussig, president and CEO. “ThreatMetrix is expanding on all fronts including new products, applications, markets and geographies,” he says. “Our customers are deploying ThreatMetrix solutions across the enterprise on a global basis.
Vivek Mehra, general partner, August Capital, joins the ThreatMetrix board of directors. “The previously separate worlds of fraud [prevention] and security are converging and ThreatMetrix is ideally situated to help companies and government entities reduce fraud losses while preventing data breaches from stolen identities,” Mehra says.
The new funding round comes months after ThreatMetrix bought TrustDefender, an Australia-based fraud prevention company.
ThreatMetrix says 40% of its business stems from Europe.
At the Internet Retailer Conference & Exhibition 2012, Tim Toews, consultant and former CIO, Office Depot Inc. , will speak in a session entitled “Blocking the hackers: The case for preventive action.” The IRCE $200 early-bird discount expires March 31.