Czech-founded ThreatMark, an innovator in behavior-based fraud prevention, has successfully closed a €22.14 million ($23 million) funding round.
🏭 Industry: Fraud prevention and cybersecurity
📣 Solution: Behavior-based fraud detection platform utilizing advanced AI and machine learning
👯 Founder(s): Michal Tresner (CEO)
🗨️ In their own words: “We are excited about this investment, which is a strong endorsement of ThreatMark’s position and will help accelerate our growth. We are committed to leveraging Octopus Ventures’ and RAC’s support to further our mission of protecting people and their transactions, as well as intensifying our efforts to disrupt fraudsters,” said Michal Tresner, CEO of ThreatMark.
📅 Founding year: 2017
💰 Investment amount (current round): $23 million (€22.14 million)
🌱 Stage: Growth stage
🚀 Funded by: Octopus Ventures, Riverside Acceleration Capital, and Springtide Ventures Fund
🗨️ Investor’s perspective: “We’re delighted to be partnering with ThreatMark. The team has had a stellar 12 months of growth, and with our support, we’re confident they can continue to build on this momentum through expanding into the UK and US market. Online banking fraud is a huge and complex problem for the financial services sectors, one that requires an increasingly sophisticated approach to fraud detection. ThreatMark is set to play a progressively central role combating it,” said Paul Davidson, Partner at Octopus Ventures.
💡 It will be spent on: Expanding market presence in the UK and US, accelerating research and development, and enhancing solution capabilities
💪 Their specialty: Safeguarding financial institutions against sophisticated fraud schemes by harnessing real-time behavioral, device, threat, and transactional data analysis
🔑 Business model: B2B software solution for financial institutions of all sizes
👥 Customer profile: Financial institutions, including mid-market organizations and global banks
