Signifyd, the world’s largest provider of guaranteed fraud protection, is enabling retailers to provide friction-free buying experiences for their customers. Signifyd leverages big data, machine-learning and expert manual reviews to provide a 100 percent financial guarantee against fraud on approved orders that turn out to be fraudulent. This effectively shifts the liability for fraud away from e-commerce merchants, allowing them to increase sales and open new markets while reducing risk. Signifyd is in use by multiple companies on the Fortune 1000 and Internet Retailer Top 500 lists. Signifyd is headquartered in Silicon Valley, CA.
The company was named a Cool Vendor in Gartner’s 2017 “Security for Midsize Enterprises” report and within the past two years formed partnerships with Salesforce Commerce Cloud, Magento, BigCommerce, Accertify and ThreatMetrix. Besides being named to the Forbes FinTech 50 and included among Bloomberg’s 50 Most Promising Startups, Signifyd has been listed as having a Top Company Culture by Entrepreneur. The company was also recently named to Inc. Magazine’s Best Workplaces for 2018 and recognized by the San Francisco Business Times and Silicon Valley Business Journal as one of the Bay Area’s Best Places to Work.
“The fraud detection and prevention market is estimated to reach nearly $42 billion by 2022,” Signifyd CEO and co-founder Raj Ramanand said. “However, while fraud remains a serious concern, transactions wrongly declined due to suspected fraud represents a bigger problem of more than $150 billion a year. A wrong decline can push consumers to abandon the merchant and thereby erode customer lifetime value. With this funding, we’re looking to continue to enable friction-free e-commerce for enterprise and omnichannel retailers globally.”