Signifyd
artificial intelligence/machine learning . regtech . authentication and fraud prevention
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About
Signifyd (formerly known as Trusted Patterns) is an e-commerce fraud-prevention startup that analyzes online transactions to detect fraudulent activities. The platform leverages machine learning algorithms along with behavioral technology and data science research to safeguard online retailers against the risks of fraud. It also helps the merchant to prevent credit card chargebacks, thereby reducing loss associated with fraud. Signifyd was listed in Forbes' FinTech 50 and Bloomberg’s 50 Most Promising Startups. The company was also listed as one of Inc. Magazine’s Best Workplaces for 2018.
Focus
PRODUCTS & SERVICES
Signifyd offers a guaranteed fraud protection solution for online merchants which helps them to reduce fraud and chargebacks. In case of a fraudulent chargeback, it pays back the chargeback fees to the merchant within 48 hours. It leverages machine learning to automate fraud prevention that enables businesses to reduce risk and increase sales at the same time. Signifyd can be integrated on the existing e-commerce platform through an API.
REVENUE MODEL
The company earns revenue by charging a monthly subscription fee and a percentage fee per transaction (approved order). It also provides customized pricing services for enterprises.
MAIN CLIENTS
The company has major customers from e-commerce industry. Some of its customers: Makerbot
chegg
Zentail
Misfit
Zepp
build.com
HSN
Lumo Lift
Isaora
Wayfair
Petflow
Areatrend
Haven
Netaya
GearX.com
Lensrentals
UBIQ
Lumoid
Roden Gray
Campsaver
Pure Fix
Greats
Progenex
iRobot
Stance
Wayfair
etc.
EXISTING PARTNERSHIPS
Some of its partners; Salesforce Commerce Cloud
Magento
Accertify
ThreatMetrix
Shopify
Collins Harper
Praxis
etc.
COMMENT
Signifyd uses machine learning algorithms to analyze thousands of data points from various data providers to verify orders in real-time. Signifyd automates back-office operations including auto-fulfill and auto-cancel on orders and makes it easy for merchants to get paid for chargebacks.
Traction
VALUATION / MARKET CAP:
$400 M in 2018
VALUATION COMMENT:
Third-party sources claims that the company's valuation is around $400M to $600M.
REVENUE
$10M+ in 2017
REVENUE COMMENT:
The company's estimated revenue is $75M in 2017.
TRANSACTIONS COMMENT:
The company claims that it has protected sales orders worth $9.1B till date. (May 2018)
ACTIVE USERS COMMENT:
The platform is being used by more than 10,000 e-commerce merchants. (May 2018)
OTHER INFO:
The fraud detection and prevention market is estimated to reach nearly $42B by 2022.
TRACTION COMMENT:
The company is planning to open an office in Barcelona in next year to expand its operations in Europe.
People
FOUNDERS
Michael Liberty
Rajesh Ramanand
BOARD MEMBERS AND ADVISORS
Jai Choi
Maria Thomas
Ohad Samet
Safa Rashtchy
Tim Eades
NUMBER OF EMPLOYEES
51-200
INVESTORS:
KEY EMPLOYEES:
Rajesh Ramanand (CEO); Chendong Zou (Head of Engineering); Johannes Fischli (Head of Business Operations); Vahe Amirbekian (Head of Risk Product); Skye Spear (Head of Sales & Partnerships)
Momentum
FUNDED
YES
TOTAL FUNDING
$185 M
DATE OF LAST FUNDING
May 2018
TOTAL FUNDING COMMENT
The company is planning to use its funds to further accelerate its growth with global enterprise and omnichannel retailers to provide friction-free e-commerce to their customers. (May 2018)
SEED & PRIOR FUNDING
$2 M
SEED CLOSED ON
Dec 2012
FUNDING SERIES
SERIES A · $7 M · Jun 2015
SERIES B · $20 M · Feb 2016
SERIES C · $56 M · May 2017
SERIES D · $100 M · May 2018
LISTED
NO
COMMENT
There is a mismatch between total funding amount and overall funding rounds raised by the company.
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FOUNDING YEAR:
LOCATION:
Views:
$185 M
About
Signifyd (formerly known as Trusted Patterns) is an e-commerce fraud-prevention startup that analyzes online transactions to detect fraudulent activities. The platform leverages machine learning algorithms along with behavioral technology and data science research to safeguard online retailers against the risks of fraud. It also helps the merchant to prevent credit card chargebacks, thereby reducing loss associated with fraud. Signifyd was listed in Forbes' FinTech 50 and Bloomberg’s 50 Most Promising Startups. The company was also listed as one of Inc. Magazine’s Best Workplaces for 2018.
Signifyd
About
Momentum
FUNDED
NO
LISTED
NO
Other