Tel Aviv-based data security and fraud prevention solution startup Riskified becomes on Tuesday Israel’s new unicorn company. Riskified has raised $165 million in funding at a valuation of more than $1 billion.
The Series E funding round led by global growth equity firm General Atlantic. Other investors included Fidelity Management & Research Company, Winslow Capital Management and previous backers of the company.
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Founded in 2012 by Assaf Feldman and Eido Gal, Riskified has raised $229 million to date. The company has enjoyed a 250% compound annual growth rate over the past five years.
Riskified’s software helps e-commerce businesses secure their payment systems and guard against fraud
The company is described as a pioneer of chargeback-guarantee. In Riskified’s solution, every transaction approved by the company carries to get a full, money-back guarantee for the merchant in case of a fraud-related chargeback. All this while improving customer experience.
The company employs over 420 employees at its Tel Aviv and New York offices and is planning to open a Shanghai office before the end of the year.
The new capital will be used for product development and expansion into new markets, domestically and internationally, Riskified announced on Tuesday.