• FOUNDING YEAR: 2013
    LOCATION:
    United States
    REGION:
    IL
    Last Update:
    27 Jun, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Card fraud detection platform using predective analytics. The company offers fraud analytics solutions for card issuers, processor & merchants. The platform helps banks & merchants to detect fraud activity on real-time of their customer card transactions.
MAIN CLIENTS:
Banks, Merchants, Credit unions, Payment processors
PRIMARY PROBLEM SOLVED:
Rippleshot solved data breaches and preventing stolen card information problem for card users. Rippleshot offers a cloud-based card protection platform that uses data analytics and machine learning to detect a breach of card data, identify which customer's card is most likely to have seen fraudulent activity, and suggest strategies prevent future fraud loss.
COMMENT
Rippleshot leverages machine learning and data analytics technology to processes millions of payment card transactions in real-time to proactively pinpoint when and where a breach of card data occurred.

PEOPLE

FOUNDERS:
Canh Tran, Yueyu Fu, Randal Cox
Board Members and Advisors:
Gloria Colgan
NUMBER OF EMPLOYEES:
1-10
INVESTORS:
KGC Capital, SixThirty, UMB Bank, Wintrust, Plug and Play Tech Center, Innotech Capitals, KDWC Ventures, CMFG Ventures, Mastercard Start Path, CUNA Mutual Group
KEY EMPLOYEES:
Canh Tran(CEO); Randal Cox(CTO); Lucas Ward(COO); Yueyu Fu(CPO)

TRACTION

VALUATION / MARKET CAP:
$8 MM in 2015
COMMENT:
Currently, Rippleshot is working with two large payment processors and several of their banks and credit unions with a total reach of over 5,000 banks(Feb 2017).

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$2 Millions
DATE OF LAST FUNDING:
Feb 2017
SEED & PRIOR FUNDING:
$2 Millions
SEED CLOSED ON:
Dec 2015
SEED PRIOR FUNDING COMMENT:
The company has received non-equity assistance from Mastercard program(July 2015).
LISTED:
NO
COMMENT:
Venture funding: $2.6 M(Feb 2017).

LATEST RESEARCH