Fraud Prevention Platform ‘Arkose Labs’ Raises $22 Million

Arkose Labs, a startup service focused on online fraud and abuse prevention, has raised $22 million in a Series B funding round.

The financing was led by Microsoft’s venture fund M12, and included additional nacking from USVP and PayPal.

This brings the total amount raised by Arkose Labs to $36.5 million. 

The company was set up in 2015 by co-founders Kevin Gosschalk and Matthew Ford, who self-describe their mission as aiming to “bankrupt the business model of fraud”.

Its telemetry-based decision engine aims to identify potential bad actors and challenge them in a way “that frustrates their efforts and diminishes their ROI, without accidentally creating friction for legitimate users”.

Arkose Labs claims it has designed the fastest-learning fraud defence platform on the market. It works to protect from activities such as account takeover, fake account abuse, scraping, spam and gift card abuse.

Gosschalk, who acts as Arkose Labs’ CEO, said in a statement: “Our platform takes a zero-tolerance approach to cyber attacks and our team is committed to putting a stop to the global fraud epidemic”.

Visit the Arkose Labs website here.

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