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NS8 secures $123M to scale fraud prevention platform with behavior analytics

Categories Biometrics News  |  Trade Notes
NS8 secures $123M to scale fraud prevention platform with behavior analytics
 

Fraud detection and prevention company NS8 has secured $123 million in Series A funding led by Lightspeed Venture Partners and AXA Venture Partners, the company announced.

The investment will be used to further develop the company’s products and on international business development by expanding its partner network. In the past year, NS8 has increased its workforce from 50 to more than 200 staff members working in sales, engineering, marketing, and infrastructure.

NS8’s fraud prevention platform provides a combination of behavioral analysis, real-time scoring, and global monitoring to help companies minimize transaction risk.

“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,” said Bradley Twohig, Partner at Lightspeed Venture Partners, in a prepared statement. “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 ecommerce platform. The time to value is simply best in class.”

Axa Venture Partners is actively involved in helping companies scale globally. Axa Ventures has also invested in D-ID which develops anonymization and facial biometrics-blocking software.

“NS8 has built a market-leading fraud detection and prevention platform combining advanced data analytics with real-time scoring. NS8’s rapid growth is a testament to the strength of the company’s product and the value NS8 delivers to its customers,” said Alex Scherbakovsky, General Partner at AXA Venture Partners and NS8 board member, in a prepared statement. “We are excited to partner with Adam and the NS8 team to scale the business globally.”

NS8 reports a 200 percent year-over-year growth, and is committed to fighting online fraud.

“Thanks to this investment from Lightspeed, AXA Venture Partners, and our full backing group, we can continue to scale to meet the growing demand for fraud prevention technology in the global marketplace,” said NS8 CEO Adam Rogas, in a prepared statement. “This partnership positions NS8 to empower even more businesses with enterprise-level fraud defenses, regardless of size or industry.”

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