Signifyd Inc., a company that sells artificial intelligence-based e-commerce fraud protection software, has raised $205 million in new investor funding, as more companies use its software in an effort to improve the online shopping experience for customers during the pandemic.
The company announced the growth-equity financing Thursday, which was led by New York-based Owl Rock Capital and brings the company’s total funding to date to about $400 million since it was founded in 2011. Signifyd says its valuation is now about $1.34 billion.
“We’re seeing great demand,” said Rajesh Ramanand, co-founder and chief executive of San Jose, Calif.-based Signifyd. Mr. Ramanand was formerly head of risk for emerging markets at PayPal Holdings Inc.WSJ