Brno-based startup ThreatMark, which uses AI to prevent fraud for financial institutions, has secured $23 million to expand its global reach and enhance its fraud prevention technology. The round was led by Octopus Ventures and American Riverside Acceleration Capital.
- Established in 2015 by Michal Tresner and Kryštof Hilar, ThreatMark offers a cutting-edge, machine learning-based platform designed to protect financial institutions from evolving digital fraud.
- ThreatMark uses AI and behavioral intelligence to analyze data from devices, user behaviors, and transactions, detecting advanced fraud like scams and account takeovers.
- Its easy-to-deploy platform offers effective fraud detection with minimal false positives, providing real-time insights and uniting security, fraud, risk, and compliance teams.
- The startup, employing over 100 people, reports a 75% growth in its annual recurring revenue over the past year. It provides services to 12 of the 15 Czech banks and clients across Europe, the US, Latin America, Canada, and Asia.
Details of the deal
- The investment was led by London-based VC Octopus Ventures and Riverside Acceleration Capital (RAC), which contributed approximately $15 million, along with an $8 million convertible note from Springtide Ventures Fund.
- ThreatMark will use the funds to expand into the UK, accelerate R&D, and expand its team with experts in data processing and high-performance computing.
“This investment is a strong endorsement of ThreatMark's position and will help accelerate our growth We’re grateful to our investors and partners for supporting us in building a safer digital future, "CEO of ThreatMark Michal Tresner, stated.
