Signifyd Scores $7M For Chargeback Protection
San Jose-based Signifyd, which provides fraud and chargeback protection software and services for e-commerce businesses, said today that it raised $7M in its Series A funding. The funding was led by Allegis Capital and also included Resolute Ventures, IA Ventures, QED Investors, Lucas Ventures and Tekton Ventures. The new funds brings its total raised to $11.2M. Pete Bodine of Allegis joins the company's board of directors, as does Tim Eades, the CEO of vArmour Networks. Signifyd is led by Raj Ramanand. Chargebacks are the problematic process that credit card companies use to allow consumers to dispute charges on their credit cards, which usually results in a loss of both revenue and product to e-commerce companies, in the case of fraud.
posted on Monday, July 13, 2015 (Link to more information)
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