Fraud detection specialist Featurespace raises £6.2m from Imperial Innovations and TTV Capital
Imperial Innovations and TTV Capital led the £6.2m round to support growth in the UK and US markets.
Cambridge-based adaptive behavioural analytics specialist providing real-time fraud detection software.
Featurespace has secured £6.2m in a funding round led by Imperial Innovations and TTV Capital. Imperial contributed £2.5m, building on its existing backing, while US-based fintech investor TTV Capital added £2.4m.
The company has developed an adaptive behavioural analytics platform known as ARIC, which uses machine learning and Bayesian statistics to monitor individual customer patterns in real time. The technology helps clients predict and mitigate fraudulent activity with higher accuracy than traditional solutions.
The fresh capital will be directed towards expanding operations in both the UK and the United States, alongside continued growth within the financial services sector.
Investor perspective
"This new funding round reflects the great progress Featurespace has made over the last year, including announcing major new customer wins with companies based in the USA. The most recent of these is a new partnership with TSYS, one of the world’s largest payment solutions and services companies, in which Featurespace’s adaptive behavioural analytics platform will be used to reduce fraud for TSYS’ clients."
Jon Edington
Director for technology ventures, Imperial Innovations
Use of funds
- 01Expand into international markets
- 02Scale operations
Investors
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About the company
Featurespace
Featurespace provides real-time fraud detection and anomaly analytics for corporate clients.