Fraud prevention innovator, Moonsense, recently announced that they have raised $4.2m in seed funding to support the general availability of their user behavioral and network intelligence solution.
The platform aims to help organizations future-proof their fraud detection and prevention efforts.
The funding round was co-led by XYZ Ventures and Race Capital, with participation from TheGP, Foothill Ventures, and individual investors including Sekhar Sarukkai, John Lilly, and Josh Wills. Moonsense’s innovative solution is being actively used across several security and risk-sensitive industries, such as financial services, FinTech, online merchants, and online gambling, among others.
Moonsense offers a next-level data management and AI/ML solution for personalized fraud detection. By harnessing digital body language and source data, Moonsense enables businesses to better customize fraud management based on their unique needs. This approach allows companies to identify and combat advanced fraud schemes like account opening fraud using synthetic IDs and account takeover attacks (ATO).
With the new funding, Moonsense aims to revolutionize the fraud prevention industry by eliminating the dependence on costly professional services. Their product offering empowers businesses to develop tailored risk scoring models, giving them the flexibility and control to customize their fraud management strategies. This cost-effective approach allows organizations to adapt swiftly to emerging threats and protect their customers and bottom line without breaking the bank.
In addition to the funding announcement, Moonsense is also offering a free trial of Moonsense Cloud, allowing organizations to harness digital body language and source data for enhanced fraud detection.
Moonsense CEO and Co-founder Andrei Savu said, “Our vision is to deliver a next-level data management and AI/ML solution for personalized fraud detection.” Ross Fubini, founder and Managing Partner at XYZ Venture Capital, added, “We believe user behavioral analytics is the future for fraud prevention. We are partnering with Moonsense because they are pushing the industry forward.”
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