SEON, an online fraud prevention firm, has secured $94m from a Series B funding round led by IVP.
The round also saw participation from Creandum and PortfoLion. Following this round, SEON has raised a total of $107m.
Founded in 2017, SEON claims it strives to help online businesses reduce the costs, time, and challenges faced due to fraud. The company’s platform leverages machine learning to help organisations detect fraud in real time and accept more transactions.
The company currently has locations in Austin, Texas, Budapest, London, Singapore and Jakarta.
SEON claims it plans to use the new funding to expand its presence in the Americas and APAC regions, build new partnerships and improve the functionality of its platform.
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