Fraudsciences Corp., a Palo Alto, Calif. based startup, has taken $11 million in a second round of funding to develop software that prevents fraudulent credit card purchases.
The software actively tracks online buyers as they go about purchasing products, in an attempt to tell if they are using stolen credit card information. The company claims its product can make overseas transactions, among others, more secure. A money-back guarantee to retailers in case of fraud-related charge backs is part of the package.
The lead investor was Redpoint Ventures. Previous investor BRM Capital, which is based in Tel Aviv, Israel, also participated.
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news.buysellrealestate.com.au » Blog Archive » Company that detects credit card fraud gets $11 million said:
[...] cut down on credit card fraud, has received $11 million in a new round of funding, according to VentureBeat. The lead investor was Redpoint [...]
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eBay's Paypal acquires Israel's Fraud Sciences for $169 million, 12 times the return for investors | Venture Capital Cafe said:
[...] Sciences had only received $11 million dollar in two rounds of funding raised by Eli Barkat from BRM Capital ($5M), US-based Redpoint Ventures ($2M) and other US and [...]