Signifyd Secures Million

Signifyd has received $19 million in funding from American Express Ventures, Menlo Ventures and TriplePoint Capital. The company is in the rapidly expanding space of fraud protection for eCommerce. Signifyd was founded Raj Ramanand and Mike Liberty, fraud experts who were previously with PayPal. At the end of 2015, the company announced it had a run rate of $5.6 billion in transaction volume, with 800 percent year-over-year revenue growth and triple the number of employees. ECommerce firms often outsource fraud protection because they lack the resources to combat fraud themselves and would experience lower margins if they did so. Signifyd provides a guarantee that it will pay for any fraud-associated costs that are a result of a Signifyd-approved transaction. This guarantee has given merchants up to a 20 percent increase in margins. Most…

Link to Full Article: Signifyd Secures Million

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