Forter, a new security startup based in Tel Aviv raised $3M from Sequoia Capital. The founders, Michael Reitblat and Liron Damri, previously worked at Fraud Sciences, which was acquired by Paypay in 2008 for $169M. Forter offers an advanced anti-fraud protection platform for ecommerce companies and online merchants. Whereas, the traditional way of reviewing ecommerce transactions for fraudulent activity is a manual process using scoring mechanisms and rules engines, Forter is an automated solution that gives a yes or no answer to each transaction within 300 milliseconds. Forter is more powerful and accurate because it analyzes the behavior of each customer. For online merchants, the fraud prevention solution is plug-and-play and easy to use. Best of all, Forter offes 100% fraud chargeback guarantee. Here is a snapshot on Forter.
Company Background
- Started: 2013
- Raised: $3M
- VC Backers: Sequoia Capital
- Linkedin Employee Count: 16
- Founders: Michael Reitblat (CEO) and Liron Damri (COO)
- Product: Plug and play real time fraud prevention system for online merchants
- Customers: Online merchants of all sizes
System Features
- Forter incorporates proxy detectors, social data analytics, IP Geo-location, and advanced behavioral engine that analyzes customer behavior and customer profiles
- Real time system approve or denies each transaction within 300 milliseconds
- 100% fraud chargeback guarantee
- Reduces false declines to zero
- System identifies good customer from a bad one 100% of the time