A fraud protection business called Signifyd has just secured a huge $19m in funding.
The capital comes from American Express Ventures, Menlo Ventures and Triple Point Capital.
Signifyd aims to fight fraud and help businesses by looking to reduce chargebacks, people costs and declined orders.
The company has a guarantee that it will pay for fraud costs stemming from a transaction if Signifyd approved the transaction.
And Signifyd says its platform and 100% financial guarantee program can help merchants see a 20% increase in margins.
Speaking about investing in the company, American Express Ventures partner Rohit Bodas said: “Merchants of all sizes have a growing need for fraud-management solutions as more consumers shop online.
“By leveraging machine learning and providing a 100% guarantee, Signifyd is making it possible for even the smallest merchants to combat fraud and achieve measurable cost savings in the process.”
In February, Signifyd also raised $20m in Series B from investors including Menlo Ventures, Allegis Capital, IA Ventures, QED Investors, Bill McKiernan and Tim Eades.
The company plans to use the cash to scale its infrastructure and further optimize its machine learning technology.
Signifyd was founded by ex-PayPal employees, Raj Ramanand and Mike Liberty, and by the end of 2015 announced it had increased to a run rate of $5.6bn in transaction volume, with an 8x year-over-year revenue growth.
The company currently serves 5,000 e-commerce companies, including several Fortune 1000 retailers such as Jet.com, Lacoste, and Peet’s Coffee & Tea.
Find out more about the company here.