Fingerprint raises $33 million from Nexus Venture Partners, others
Through device intelligence application programming interfaces (APIs), Fingerprint, a firm that aids developers in creating security solutions, has raised $33 million in a Series C fundraising round headed by Nexus Venture Partners, bringing its total funding to $77 million. In the round, Uncorrelated Ventures also took part.
The Chicago-based startup claimed that the funding comes at a time when the need of exact device identification has increased due to the fall of cookies and the rising usage of virtual private networks (VPNs). In less than 500 milliseconds of processing time, it promises to recognise 99.5% of returning users. High-accuracy device identification has never been more crucial, especially with the slow demise of cookies and the rise of VPNs. Companies must fight against sophisticated attacks from online scammers while ensuring a frictionless experience for their dependable clients, according to Dan Pinto, Co-Founder of Fingerprint.
Its services are used by more than 6,000 businesses worldwide to secure their login pages from phishing attacks and to handle a variety of additional use cases. These services are also used by payment processors and e-commerce merchants to fight payment fraud. With businesses like Tata Digital, Zee5, Junglee, and Park+ adopting its solutions to prevent fraud and abuse on their platforms, the company has also made headway into the Indian market.
By enabling precise device recognition and by offering further signals to tell (them of) visitor intent without bothering legitimate users, Pinto continued, "Fingerprint solves this challenge for thousands of companies". The business said that the recently acquired financing will help it in its efforts to expand among large enterprise clients and enable the creation of technologies to handle difficult device identification problems.
Abhishek Sharma, Managing Director of Nexus Ventures, stated in the announcement, "We're impressed by the product's ability to consistently deliver 10x+ return on investment (ROI) for its customers". "Over the last three years, the company's commercial growth has increased 20-fold. From tiny firms to major public companies, it has a strong product-market fit. We're overjoyed to quadruple down and develop our relationship with Fingerprint.
The Chicago-based startup claimed that the funding comes at a time when the need of exact device identification has increased due to the fall of cookies and the rising usage of virtual private networks (VPNs). In less than 500 milliseconds of processing time, it promises to recognise 99.5% of returning users. High-accuracy device identification has never been more crucial, especially with the slow demise of cookies and the rise of VPNs. Companies must fight against sophisticated attacks from online scammers while ensuring a frictionless experience for their dependable clients, according to Dan Pinto, Co-Founder of Fingerprint.
Its services are used by more than 6,000 businesses worldwide to secure their login pages from phishing attacks and to handle a variety of additional use cases. These services are also used by payment processors and e-commerce merchants to fight payment fraud. With businesses like Tata Digital, Zee5, Junglee, and Park+ adopting its solutions to prevent fraud and abuse on their platforms, the company has also made headway into the Indian market.
By enabling precise device recognition and by offering further signals to tell (them of) visitor intent without bothering legitimate users, Pinto continued, "Fingerprint solves this challenge for thousands of companies". The business said that the recently acquired financing will help it in its efforts to expand among large enterprise clients and enable the creation of technologies to handle difficult device identification problems.
Abhishek Sharma, Managing Director of Nexus Ventures, stated in the announcement, "We're impressed by the product's ability to consistently deliver 10x+ return on investment (ROI) for its customers". "Over the last three years, the company's commercial growth has increased 20-fold. From tiny firms to major public companies, it has a strong product-market fit. We're overjoyed to quadruple down and develop our relationship with Fingerprint.
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