NS8, a fraud prevention platform, has closed a $123m funding round which was led by Lightspeed Venture Partners and AXA Venture Partners.
With the close of the deal, NS8 hopes to accelerate the development of its product and increase its global reach, including the expansion of its partner network.
Over the past year, the company has grown its team from 50 to more than 200, and is still looking to hire more people across its sales, engineering, marketing, and infrastructure teams.
The company also claims to have had witnessed a 200% year-over-year revenue growth.
NS8 is a fraud prevention platform which leverages behavioural analytics, real-time scoring and global monitoring to help minimise online risks. The technology offers actionable data on the type, quality and trustworthiness of transactions which can be used to automatically mange anti-fraud workflows.
Lightspeed Venture Partners partner Bradley Twohig said, “Online fraud prevention has grown rapidly due to the acceleration of ecommerce adoption by merchants and, with it, an increased threat of those seeking to attack online stores. Merchants of all sizes need to invest in security products to ensure a safe and secure online experience.
“NS8’s platform allows its partners and their merchants to stand up a full-service fraud prevention hub, in a matter of a day, across almost every e-commerce platform. The time to value is simply best in class.”
Last year, NS8 closed its former funding round on $28m, with Edison Partners leading the round.
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