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The company plans to invest in its technology and international expansion.
Fraud prevention technology provider ThreatMetrix has raised $20 million in a new funding round. Adams Street Partners led the Series E round, with “all existing ThreatMetrix” institutional investors also taking part.
Among other tasks, the new capital will enable ThreatMetrix to expand the size of its fraud-detection network, which now analyzes 500 million transactions each month from some 2,500 customers and 10,000 web sites. ThreatMetrix also says it will invest in its technology, including its services designed to increase the security of mobile commerce transactions. The company also anticipates further expansion into Europe and Asia.
“ThreatMetrix has a trusted, compelling cybersecurity solution and extensive market traction that stand out compared to other unproven startups in the industry,” says Dave Welsh, partner at Adams Street Partners. “The cybersecurity industry will only continue to grow in the coming years and ThreatMetrix offers comprehensive technology to protect against evolving risks. Given its already strong base of more than 2,500 customers, we are confident that this financing will position ThreatMetrix for further growth and success across industries and geographies.”
ThreatMetrix provides payment security services to one e-retailer listed in the Internet Retailer Top 500 Guide and one in the Second 500 Guide, according to data from Top500Guide.com. The leading payment security vendor among both guides is VeriSign, with 43 retail clients in the Top 500 and 86 in the Second 500.