Signifyd gets $205 Mn funding for extending identity-based commerce security
Category: #retail  By Pankaj Singh  Date: 2021-04-16
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Signifyd gets $205 Mn funding for extending identity-based commerce security

Leading digital commerce security service provider Signifyd has reportedly announced a Series E round of USD 205 million. This was initiated by Owl Rock Capital, in partnership with investment organizations Canada Pension Plan Investments, Neuberger Berman Investment Advisers and financial services provider FIS.

This investment has taken Signifyd’s value to USD 1.34 billion and adds substantial resources for expanding the company’s Commerce Protection Platform and identity graph across the world in digital payments and shopping. The expertise range among the investment syndicate reflects the company’s current influence and the potential at which they can grow in the market over the coming year.

The Series E round adds to the growth impetus Signifyd had in 2020. Last year, the company witnessed their services utilized by enterprises like Lenovo, Samsung, across multiple divisions of Lacoste, Walmart, Quiksilver, Rite Aid, Mango, Build with Ferguson, etc.

Signifyd widened their global presence by tripling their Europe team and launching a division on Latin America. In addition, the company was named by Forrester, a leading analyst firm, as one of the largest providers of e-commerce enterprise fraud management services.

Kurt Tenenbaum, the Managing Director of Owl Rock Capital, apparently stated that Signifyd is a crucial infrastructure for many upstarting retailers as well as best known brands.

He said that Signifyd is set to strengthen their market position as leaders in commerce security with consumers rapidly shifting their preferences and driving the e-commerce sector to an inflection point which wasn’t expected so soon. He also added that the Owl Rock Capital is delighted about future prospects of the company and are glad to lead this investment and bolster the Signifyd team during their growth transition period.

Signifyd plays a crucial role as a pioneer of innovation in payment optimization amidst a historic transformation in the e-commerce sector. The California-based company will continue its heritage of providing better consumer experience through identity-based commerce optimization and security.

Source Credits:

https://www.businesswire.com/news/home/20210415005329/en/Signifyd-Closes-205-Million-Funding-Round-to-Extend-Identity-Centric-Commerce-Protection-Across-Digital-Shopping-Globally



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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