Signifyd

artificial intelligence/machine learning | regtech | authentication and fraud prevention

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208 VISITORS | 338 VIEWS

FOUNDING YEAR: 2011

LOCATION:

United States

REGION:

California

Last Update:
14 Feb, 2020

Description

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:

Viewable by subscribers only

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.

PEOPLE

MEDICI analysts will analyze Signifyd soon

TRACTION

VALUATION / MARKET CAP:

$400 MM in 2018

VALUATION COMMENT

Third-party sources claims that the company's valuation is around $400M to $600M.

REVENUE:

$10M+ in 2017

REVENUE COMMENT:

Viewable by subscribers only

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.

COMMENT:

The company is planning to open an office in Barcelona in next year to expand its operations in Europe.

MOMENTUM

FUNDED:

YES

TOTAL FUNDING:

$185 Million

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 Millions

SEED CLOSED ON:

Dec 2012

FUNDING SERIES:

SERIES A

$7 Millions Closed: Jun 2015

SERIES B

$20 Millions Closed: Feb 2016

SERIES C

$56 Millions Closed: May 2017

SERIES D

$100 Million Closed: May 2018

LISTED:

COMMENT:

There is a mismatch between total funding amount and overall funding rounds raised by the company.

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