Sift Science Closes Series C

What does Sift Science do?
Sift Science, is a company which offers large scale machine learning technology services which helps e-commerce businesses detecting and fighting fraud. The company fights fraud with machine learning, which teaches a computer to mine data for statistical patterns, and constantly learn and adapt as new data streams in. With simple APIs which consumes minutes for integrating, an online business can leverage the latest in large scale machine learning for protecting themselves from fraud. Spammers, chargebackers and account takeovers etc. Online businesses send this company user events which are mined for behavioral, network patterns and identity which corresponds for past fraud. The company also pools fraud patterns across its network of customers. The network strengthens as more data comes in. The company helps companies in making decisions in real time about who can be trusted online. The company’s machine learning software automatically detects and learns fraud behavior patterns, which alerts businesses before they or their customers are defrauded. When businesses have a clear pic of which customers are legit and which are trying to commit fraud, they can build better experiences online which customers love, while saving millions of money in lost revenue.
How much Sift Science was funded?
The company raised $30M in Series C on July 19, 2016 from Spark Capital, Insight Venture Partners and Union Square Ventures.
Previous funding
$1.6M on September 1, 2011 from Founder Collective, Alex Rampell, Lee Linden, SV Angel, Alexis Ohanian, Max Levchin, Harjeet Taggar, Garry Tan and Marc Benioff.
$4M in Series A on March 19, 2013 from Union Square Ventures, Chris Dixon, First Round, Y Combinator, Rich Barton, Founder Collective and SV Angel.
$18M in Series B on May 14, 2014 from First Round, Spark Capital, Max Levchin and Union Square Ventures.
What is next for Sift Science?
Sift Science has launched a new set of products designed for detecting and mitigating additional types of abuse and fraud. The company’s new products will target content abuse, account abuse and promo abuse. The company plans on using the latest funding raised for expanding marketing, sales and engineering teams, deepening its product capabilities and expanding their offering to new types of fraud.
More about Sift Science
Sift Science was founded on June 1, 2011 by Brandon Ballinger and Jason Tan. The company has its headquarters in San Francisco, CA.