Featurespace raises £30 million in venture funding
Financial crime prevention firm Featurespace has raised £30 million in a venture funding round led by Merian Chrysalis Investment Company.
Featurespace labels itself a provider of adaptive behavioural analytics software, designed to prevent financial crime and fraud.
It provides the ARIC machine learning platform, which uses anomaly detection to analyse complex behavioural data “in real time” and can spot anomalies “to block new fraud attacks as they occur”.
Headquartered in the UK, its customers include HSBC, Danske Bank, Vocalink, Worldpay, and TSYS.
The latest raise brings the company’s total above $100 million. The new funding will be used to support Featurespace’s “continued growth”.
“During these challenging times, our machine learning models have automatically adapted to the shift in consumer, business and criminal behaviour,” says Martina King, CEO of Featurespace.
“It is our continued focus to deliver industry-leading, fraud and anti-money laundering solutions to our customers and partners.”