SEON Raises $600K in New Funding
Hungary-based fraud prevention startup SEON announced on Thursday that it had closed a €500,000 ($624,000) funding round with investment from PortfoLion and Fiedler Capital. The company said that intends to use the new funds to expand into new geographical markets and industries.
SEON officially launched its out-of-the-box fraud solution in 2017 and currently has seven full-time employees operating out of its Budapest office. Some of the company’s clients include KLM, Air France and EuroBet. The company and co-founders Tamás Kádár and Bence Jendruszák were first profiled by about-fraud.com at Money 20/20 Europe 2017 in Copenhagen.
IdentityMind Global raise $10M
In other funding news, Palo Alto-based trusted identity provider IdentityMind Global reported on Thursday that it had raised $10 million in Series C funding. IdentityMind Global CEO and President Garrett Gafke said the new funds will be used to drive expansion in markets outside North America. The company also intends to use the new funds for a new business unit specifically dedicated to providing know-your-customer (KYC) and anti-money laundering (AML) solutions to address the regulatory and compliance requirements of the rapidly growing cryptocurrency market.
Investors for IdentityMind Global’s latest funding round included Benhamou Global Ventures, Eastern Link Capital, Hanna Ventures, Overstock.com, and Zanadu Capital Partners. The company’s SAAS platform is uses Trusted Digital Identities (TDIs) to automate compliance, risk management, fraud prevention tasks.
DataVisor pulls $40M in funding
Earlier in the week, DataVisor announced on Monday that it raised $40 million in Series C funding. The Mountain View, California-based company offers a fraud and financial crime detection service that utilizes unsupervised machine learning to identify attack campaigns before they result in damage. DataVisor currently numbers 75 employees including in two offices in China, located in Beijing and Shanghai.
The investment round was led by Sequoia Capital China, which joined existing investors New Enterprise Associates and GSR Ventures.