Top Fraud Detection Startups in 2024

Our technology combines advanced cyber intelligence, identity analysis and behavioral data to create a multi-layered fraud detection mechanism. The technology is fully automated so that it can approve or deny transactions in real-time, rendering “yes” or “no” decisions in under 300 millseconds. Furthermore, the technology is so accurate that Forter fully backs its transactions with a 100% chargeback protection program.

SIGNIFYD’s full-service cloud platform simplifies fraud detection through a financial guarantee, allowing businesses to increase sales while reducing fraud losses. SIGNIFYD is in use by multiple companies on the Fortune 1000 and Internet Retailer Top 500 list.

Riskified is the AI platform powering the eCommerce revolution. We use cutting-edge technology, machine-learning algorithms, and behavioral analytics to identify legitimate customers and keep them moving toward checkout. Merchants use Riskified to increase revenue, prevent fraud, and eliminate customer friction. Riskified has reviewed hundreds of millions of transactions and approved billions of dollars of revenue for merchants across virtually all industries, including a number of Fortune 500 companies.

The world’s first checkout experience platform, Bolt offers a lightning-fast, one-click checkout, and connects millions of shoppers to retailers through a unified, cross-brand network. Hundreds of forward-thinking retailers like Forever 21, Badgley Mischka, Milk Makeup, and more rely on Bolt to convert, retain, and delight shoppers.

Veriff delivers market leading identify verification (IDV). With the combined forces of machine learning and expert in-house specialists, Veriff protects businesses and enables good customers to effortlessly verify themselves. AI speeds up sessions with immediate feedback, while manual checks by our verification gurus mitigates the risk of financial crime.

At Persona, we’re humanizing online identity. To us, this means making it easy for businesses to verify customers’ identities and offering a secure, streamlined, and personalized experience for each end-user. This helps businesses understand their customers. And most importantly, people know they are being treated as a unique person, not just another anonymous user. At Persona, what brings our team together is our desire to help our fellow teammates succeed and our motivation to make the internet a safer place. Funding: $217M in funding; Series C (Founders Fund, Index, Coatue, First Round) Offices: San Francisco (HQ), New York Team Size: 250 Website: withpersona.com Noteworthy Customers: OpenAI, AngelList, Etsy, LinkedIn, Twilio, Reddit, DoorDash, Coursera, Gusto, Square, Simple Health, Instacart LinkedIn: linkedin.com/company/persona-identities/life Glassdoor: glassdoor.com/Overview/Working-at-Persona-Identities-EI_IE4135645.11,29.htm

Entrupy aims to fight the global problem of counterfeits to become the de-facto standard for instant authentication. Entrupy is a hardware-enabled SaaS company that uses computer vision algorithms and microscopy to bring trust to transactions of high-value physical goods. Currently in use by thousands of secondary resellers and marketplaces worldwide, Entrupy provides the only scalable technology capable of authenticating luxury products from brands such as Louis Vuitton, Chanel and Hermès, among others. The service launched in 2016, following four years of research led by Ashlesh Sharma, Vidyuth Srinivasan and Lakshminarayanan Subramanian, Professor at New York University. Investors include DG Lab Fund, deep learning pioneer and Facebook AI Research (FAIR) director, Yann LeCun, serial entrepreneur and investor Zach Coelius, cloud computing pioneer and Google VP of Infrastructure Eric Brewer, and Japanese venture capital firm, Accord Ventures.

Pindrop® Protect provides a risk score and call intelligence to the call center in the first few seconds of each call. The risk score — along with the analysis of the caller’s voice, device, and behavior — is provided to the call center’s fraud analyst team for further investigation. Pindrop’s proprietary machine learning algorithms then use feedback from the investigation to maximize solution performance. Pindrop® Passport evaluates call center interactions in real-time to passively authenticate legitimate customers. Passport runs in the background of every call, combining patented Phoneprinting™ technology with proprietary Deep Voice™ biometrics to determine if a caller has the right device, voice, and behavior to access an account. Whether callers use voice or touch-tone interactions within the IVR — or opt to speak to an agent — Pindrop credentials follow customers across the lifecycle of each call.

Smile ID is Africa's leading digital KYC provider and was founded to solve the specific challenges faced by companies trying to onboard users in unique African conditions. We have built proprietary machine learning algorithms and a technology platform to cater for all skin tones, entry level devices and users operating in low bandwidth environments. We pride ourselves on striking the right balance between stopping fraudulent transactions and reducing onboarding friction and have enabled some of the fastest-growing businesses across Africa to onboard at scale and in real-time, evidenced by performing over 100 million KYC checks to date. Our client base includes Zenith Bank, Stanbic IBTC, Flutterwave, Fairmoney, Binance, Uber, Bolt, Kuda Bank, Opay, Paystack, Luno, Yellowcard, iKhokha and hundreds more.

Cybereason delivers a proprietary technology platform that automatically uncovers malicious operations (Malops™) and reconstructs them as a clear image of a cyberattack in context. This enables enterprises to discover sophisticated targeted threats at a very early stage, disrupt them at the stem and significantly reduce the costs and damages caused by such attacks. Cybereason is headquartered in Cambridge, MA with offices in Tel Aviv, Israel.