19-October, San Mateo – Californian machine intelligence and anti-fraud company Feedzai has been in business since 2009. Since back then they have scored investments by Oak HC/FT, Data Collective, Sapphire Ventures and others with a known total of $26m+.
Now also Citi Ventures have invested into the Feedzai business with an undisclosed amount. Upon requesting details, we have not yet heard back from Feedzai to get actual numbers but the scene is talking about a “multi-million-pound” investment.
Feedzai is listed as a company working in the fields of Analytics, Big Data, Information Technology and FinTech in general. Potential clients could be in the spaces of eCommerce, banking, payments and alternative lending technology.
“As cyber attacks become increasingly sophisticated, investing in technologies that have the potential to advance security for our customers’ financial lives is a priority,” said Ramneek Gupta, Managing Director and co-head of Venture Investing at Citi Ventures. “Our investment in Feedzai will help support the continued development of their unique machine learning platform, which provides the ability to identify new and emerging threats and protect bank customers at scale.”
“This investment will help Feedzai continue to develop next-generation security services that transcend data and business silos throughout the commerce ecosystem,” said Nuno Sebastiao, CEO and co-founder of Feedzai. “One of the drivers behind Feedzai’s partnership with Citi Ventures was the opportunity to actively collaborate and forge new relationships to continue to scale our offerings. Citi Ventures will be a partner to advance what we see as the new knowledge economy, helping us forge the cognitive revolution.”
Feedzai is AI. We’re coding the future of commerce with a leading platform powered by artificial intelligence and big data. Founded and developed by data scientists and aerospace engineers, Feedzai has one critical mission: make commerce safe. The world’s largest banks, payment providers and retailers use Feedzai’s machine learning technology to manage risks associated with banking and shopping, whether it’s in person, online or via mobile devices.
About Citi Ventures
Citi Ventures accelerates innovation at Citi through a strategic focus on investing in, piloting and commercializing new solutions with the potential to transform the future of financial services. Headquartered in Silicon Valley with offices in San Francisco and New York, Citi Ventures aims to cultivate next-generation experiences for Citi’s customers by investing in startups, experimenting with new technologies through its global lab network, and driving enterprise-wide, lean startup based growth initiatives across Citi’s businesses. The team focuses in five key areas: Financial Services & Technology, Commerce & Payments, Security & Enterprise IT, Big Data & Analytics, and Marketing & Customer Experience. Citi Ventures accelerates its portfolio companies’ ability to scale through collaboration with Citi’s global businesses and industry experts.
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Photo credit: bruceg1001
Source: Stephanie Cooley (Dotted Line Communications on behalf of Feedzai) / Crunchbase
Editorial notice: The quotes and “about text” has been publicly offered as part of a press release.