Iovation, a Portland, Ore., company that aims to track and prevent online fraudsters, has closed off its first round of funding at $15 million. The basic idea behind Iovation's product is keeping track of millions of computers to pinpoint the few that are used for fraudulent activities, a scheme the company calls "device reputation fraud management." Iovation sells its software to online retailers, banks, social networking sites and others. Of the funding, $10 million was closed last November, provided by Intel Capital. The additional $5 million came from SAP Ventures and European Founders Fund.