User:Leidan29/sandbox

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Forter
Company typePrivate
IndustryE-commerce
FoundedJuly 29, 2013[1]
FounderLiron Damri, Michael Reitblat, Alon Shemesh [2]
Headquarters
Tel Aviv
,
Israel
ServicesFraud Detection, Application service provider, Analytics
Websiteforter.com

Forter is a startup company headquartered in Tel Aviv, Israel with US offices in San Francisco.

Backed by Sequoia Capital and New Enterprise Associates (NEA), Forter provides a Software as a service(SaaS) solution that automates online fraud detection by combining profile data, behavioral data and cyber intelligence to detect fraudsters in real time[3].


History

Forter (formerly Ryzyco) was founded in 2013 by the former heads of product, operations and automation at Fraud Sciences, a company that delivered anti-fraud solutions and was acquired and integrated into Paypal in 2008[4][5]

Forter was started in Citigroup’s fintech accelerator program in Tel Aviv[6] and ran in Stealth mode until it's Series A funding round of $3 million from Sequoia Capital in March 2014[7]. In November 2014 Forter closed a $15 million Series B funding round from New Enterprise Associates (NEA) and Sequoia Capital and announced the opening of a marketing office in the U.S.

Technology

Forter's anti-fraud solution integrates into an online merchant's system and gives real-time decisions based on an automated fraud detection engine[8].

The company fraud detection engine uses three analysis levels[8][9]:

  • Identity mapping - Synthesis of publicly available social networks, demographics and purchasing power
  • Behavioral Analysis - Tracking mouse movements and click analysis, browsing habits and reading patterns

The system integrates between the payment gateway and the merchant's website and authorizes or declines a buyer's transaction within 300 milliseconds[10].

The system's logic is developed based on experience gained in Israel's intelligence community[5] as well as of hackers, mathematicians, psychologists, linguists and philosophers[11].

See also

References

  1. ^ "Forter company summary". TechCrunch. Retrieved 7 December 2014.
  2. ^ "Forter website - Leadership". Forter. Retrieved 11 December 2014.
  3. ^ "16 E-Commerce Solutions for Small Businesses". Business News Daily. Retrieved 28 December 2014.
  4. ^ "Forter - Delivering Fraud Free eCommerce Environment". ILVenture. Retrieved 28 December 2014.
  5. ^ a b "PayPal Fraud Vets Launch Forter with Chargeback Guarantee". Card Not Present.com. Retrieved 28 December 2014.
  6. ^ "Forter Rasies $15M Series B For E-Commerce Fraud Prevention". Forbes.com. Retrieved 28 December 2014.
  7. ^ "E-commerce security startup Forter lands $3M in funding from Sequoia Capital". zdnet.com. Retrieved 28 December 2014.
  8. ^ a b "Forter raises $15M as it takes care of fraud detection for online retailers". venturebeat.com. Retrieved 28 December 2014.
  9. ^ "Forter website - Technology". Forter. Retrieved 28 December 2014.
  10. ^ "Forter Raises $3M From Sequoia To Prevent E-Commerce Fraud". techcrunch.com. Retrieved 28 December 2014.
  11. ^ "Israeli President Peres's Magical Technology Tour". bloomberg.com. Retrieved 28 December 2014.

External links

Wikimedia Commons has media related to Forter.


Category:Companies established in 2013 Category:Information_technology_companies_of_Israel Category:Cybercrime Category:E-commerce

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