Friday, February 26, 2016

Signifyd Snags $20M To Prevent Chargebacks

San Jose-based Signifyd, a startup which uses machine learning and other techniques to ferret out fraud-related e-commerce orders, has raised $20M in a Series B funding round. The funding was led by Menlo Ventures, and also included Allegis Capital, IA Ventures, QED Investors, Bill McKiernan and Tim Eades. Signifyd offers up API-driven tools to help e-commerce merchants avoid fraudulent orders, which usually result in very costly chargebacks. PRavin Vazirani of Menlo joins the company's board with the funding. The company has now raised $31M. Signifyd is led by Rajesh Ramanand.