Fraud prevention firm Emailage raises $10m funding
Fraud prevention and identity verification firm Emailage has raised $10 million in new funding. The round was led by Anthos Capital, and featured the participation of Mucker Capital, Radian Capital, Tallwave Capital, and Wipro Ventures, reports Finovate (Banking Technology‘s sister company).
“This investment will allow us to continue our rapid growth, enhance our leadership position in the online fraud detection market and deliver significant fraud prevention capabilities to businesses around the world,” Emailage CEO Rei Carvalho says. The funding takes Emailage’s total capital to more than $15 million.
Emailage’s innovation is to leverage email addresses as unique global identifiers. The company’s real-time risk intelligence technology uses email transaction history, machine learning algorithms, and “positive and negative data” to produce a predictive risk score for any transaction involving an email address.
Emailage’s technology can be used to provide verification for online transactions, account signups, marketplace listings, and more. In addition to the top three PC manufacturers and the top four money transfer providers, Emailage’s customers include:
- five of the top ten global retailers
- three of the top five largest global airlines
- three of the top six credit card issuers
- three of the top five marketplace lenders
- three of the top five travel websites
In 2017 alone, Emailage has analysed $100 billion in transaction volume, identifying more than 17 million high-risk transactions. “Emailage has developed a powerful solution that is critical for any company doing business online,” Anthos Capital’s Paul Farr says, crediting the company for “making online transactions safer for businesses and consumers”.
Emailage was founded in 2012 and is headquartered in Chandler, Arizona.
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