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ThreatMark to develop new fraud prevention capabilities after pulling in $5M

ThreatMark to develop new fraud prevention capabilities after pulling in $5M
 

A scale-up capital firm has committed $5 million to ThreatMark, an anti-fraud software makers that focuses on human behavior when looking for cybercrime.

Orbit Capital specializes in scale-up funding, which is a company that is more established than a startup and needs the services unique to private equity firms. Private equity funders typically invest in older firms that deal in hardware.

ThreatMark says it has already raised $8 million in 2023. The latest tranche will pay for research and development, market development and adding product capabilities.

CFO Martin Zikmund says having raised $13 million in a year in an economic climate making many venture capitalists cautious is a testament to the market’s recognition of ThreatMark’s behavioral biometrics and fraud prevention technologies.

The company’s claimed 50 percent year-over-year revenue growth no doubt was a deciding factor for Orbit.

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