October 18, 2023 at 10:24AM
San Francisco-based fraud prevention startup Darwinium has secured $18m in a Series A funding round led by U.S. Venture Partners, with participation from seed-stage investors Blackbird, Airtree Ventures and Accomplice. The company aims to build technology that helps businesses combat bots, scams and online abuse, combining digital security with fraud prevention. The platform runs on the perimeter edge via Content Delivery Networks (CDNs), providing businesses with a continuous view of user behavior to detect fraudulent activity and protect customer accounts. Since its launch in 2021, Darwinium has raised $26m.
Darwinium, a San Francisco startup in the fraud prevention space, has secured $18 million in Series A funding. The funding round was led by U.S. Venture Partners, with participation from seed-stage investors Blackbird, Airtree Ventures, and Accomplice.
Since its launch in 2021, Darwinium has raised a total of $26 million. The company aims to develop a digital security and fraud prevention platform that runs on the perimeter edge. Their platform combines digital security with fraud prevention, offering a single view of customer journeys across the web, mobile apps, and APIs, along with fraud analytics and customer journey orchestration tooling.
Darwinium’s unique integration point on Content Delivery Networks (CDNs) enables businesses to have a continuous view of user behavior throughout various stages, such as pre-authentication, account creation, login, change-of-details, and payments, all through a single deployment. The company argues that this approach, which moves fraud and risk decisions to the perimeter edge, is privacy preserving, low latency, and eliminates vulnerabilities associated with “point-in-time” API-based solutions.
Darwinium’s platform is being used by customers to distinguish between human and bot traffic, add context from user behavior, prevent account takeover and identity spoofing, identify scams and social engineering behaviors, block content and promo abuse, and detect fraudulent payments.
The company was founded by Alisdair Faulkner, who previously founded ThreatMetrix, a fraud detection firm that was acquired for $817 million in 2018.
In related news, Descope, a company targeting the customer identity market, recently raised $53 million in seed funding, Prove Identity secured $40 million for its ID verification technology, and Stack Identity received an early investment of $4 million.