California-based fraud protection enterprise Signifyd has closed a $205m Series E funding round led by Owl Rock Capital.
Joining Owl Rock in the round were financial services provider FIS and investment management companies Canada Pension Plan Investment Board and Neuberger Berman Investment Advisers.
Founded in 2011, Signifyd is a fraud protection specialist that allows online retailers to provide a friction-free buying experience for their customers through its Commerce Protection Platform. The firm leverages big data, machine learning and domain expertise to offer a supposed 100% financial guarantee on approved orders that turn out to be fraudulent. The company has locations in the UK and the US.
Following the investment, Signifyd is now valued at $1.34bn. The company claims the funding adds ‘significant’ resources to expanding its Commerce Protection Platform and identity graph globally across digital shopping and payments. Signifyd previously raised a $100m Series D in May 2018.
The firm highlighted it has come off the back of a very strong 2020, with many wins under its belt. These include companies such as Samsung, Walmart, Lacoste, Mango, Lenovo, Quiksilver and many more adopting its technology, as well as exceeding 98% coverage of ecommerce shoppers in major markets, which led to conversion rate increases of up to 20% for Signifyd clients.
Signifyd also expanded its global reach, tripling its European team as well as launching in the Latin American market. The company doubled its revenue year-on-year in 2020 and claims it expects to hit a $200m revenue run rate by 2022.
Signifyd CEO Raj Ramanand said, “Last year we saw ecommerce sales and influence propelled into 2025. And yet the online checkout experience is stuck in 2015. With this latest investment, Signifyd has the roadmap, the resources and technical talent to enable merchants to push the customer experience to that future state — and to keep pushing it forward for years to come.”
Owl Rock managing director Kurt Tenenbaum added, “Signifyd is mission-critical infrastructure for a growing number of retail’s biggest and best-known brands. They are poised to expand their position as the market leader in commerce protection just as rapidly shifting consumer preferences are driving an ecommerce inflexion point, we didn’t think we’d see for several years.
“We are excited about what the future holds for the company and are pleased to lead this investment and support the Signifyd team as they enter this next stage of strong growth.”
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