Israeli startup Riskifield (think risky field), which offers e commerce fraud prevention services, is headed for its big exit. Riskifield has announced plans for an initial public offering IPO on the New York Stock Exchange NYSE. Riskifield already hit unicorn status with a $1 billion plus valuation.
Riskified filed a registration statement on Form F-1 with the Securities and Exchange Commission SEC for a proposed initial public offering of its Class A Ordinary Shares. The offering is subject to market conditions, and there can be no assurance as to whether the offering may be completed, or as to the actual size, price or other terms of the offering. Riskified intends to list its shares on the New York Stock Exchange under the symbol “RSKD.” Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC are acting as lead book-running managers for the proposed offering.
Founded in 2012 by Assaf Feldman and Eido Gal, Riskified states that they empower businesses to realize the full potential of eCommerce by making it “safe, accessible, and frictionless.” Riskifield has built a next-generation platform that the company states allows online merchants to create trusted relationships with their consumers. Leveraging machine learning that benefits from a global merchant network, the company declares that their platform identifies the individual behind each online interaction, helping merchants to eliminate risk and uncertainty from their business.
“We drive higher sales and reduce fraud and other operating costs for our merchants and provide superior consumer experiences.”
As platforms that connect buyers with 3rd-party sellers, #marketplaces are at risk of #fraud on both ends of the transaction. Discover what forms of fraud marketplaces are uniquely susceptible to, and how to fight back with the power of #machinelearning:https://t.co/QR80fkUso8 pic.twitter.com/c5v3nEu3ui
— Riskified (@Riskified) July 1, 2021
Riskifield reported total revenue of $170 million in 2020. This was up from $131 million reported in 2019. The company did post a total losss of $11.3 million in 2020, which, in spite of the Covid recession, was down from a loss of $14.2 million in 2019. EBITDA was positive in 2020, at $2.5 million.
The company’s revenue for the first quarter of 2021 grew to $55.1 million, up from $33.2 million in the corresponding quarter of 2020.