Riskified is the latest tech company to reach unicorn status
It was announced this afternoon that Riskified has secured US$165mn in Series E Funding round led by General Atlantic, making it the latest fintech to reach unicorn status as it reached a valuation of US$1bn.
“Riskified began as a new and unproven approach to fraud prevention and payments. Achieving success required merchants to believe in our vision and partner with us. Today’s announcement is a testament to those partnerships and the leadership position we attained in this important market,” said Eido Gal, CEO and Co-founder of Riskified. “These funds will allow us to continue to develop innovative solutions that help move commerce forward.”
The technology company has experienced hyper growth over the last five years by as much as 250%CAGR.
“Our work in the payments space has shown us that Riskified’s machine learning-based approach provides material improvements over legacy fraud and risk management solutions,” said Aaron Goldman, Managing Director and Co-Head of General Atlantic’s Financial Services sector. “We believe that the Riskified team is strategically positioned to continue capturing this substantial market opportunity.”
Goldman Sachs & Co. LLC. were the sole placement agent during this round. Other investors who also participated were Qumra Capital, Pitango Venture Capital and Entrée Capital.
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Who are Riskified?
[Image: Eido Gal and Assaf Feldman]
Riskified was founded by Eido Gal and Assaf Feldman in 2013. The technology company specialises in leveraging data and innovation to ensure the highest cybersecurity to ecommerce. Riskified has 420 employees in its New York and Tel Aviv office, with plans to open a new office in Shanghai at the end of 2019.
The fraud prevention company has a number of well-known customers, including: Lastminute.com, Gymshark, Megabus and MatchesFashion
Riskified’s investors include: Pitango Growth, Capital One Growth Ventures, Qumra Capital, Genesis Partners, Groupe Arnault, C4 Ventures, The Phoenix Insurance Company, NTT DOCOMO Ventures and Entrée Capital.
“Riskified is the rare blend of realised performance and considerable potential. The company’s innovative model has enabled it to deliver significant ROI to its customers and partners, with a clear runway ahead for strategic expansion of its geographic footprint, product offering, and consumer base,” said Tanzeen Syed, Managing Director in General Atlantic’s Technology sector. “We are thrilled to partner with Eido and the Riskified team to reinvent the payments ecosystem and add real value for customers.”
Did you know?
According to Riskifeild, its customers see increased order approval rates averaging up to 20%
For more information on all topics for FinTech, please take a look at the latest edition of FinTech magazine.
Five9: the cloud software industry leaders acquired by Zoom
Five9 is the leading provider of cloud contact centre software. Driven by a passion for transforming contact centres into customer engagement centres of excellence, Five9 have a deep understanding of the cost and complexity of running a contact centre.
Founded in 2001, Five9 help contact centres of every size create powerful connections.
The company has over 20 years of cloud contact centre experience, reaches over 2,000 customers worldwide, and annually reaches over 7 billion customer interactions.
Built on a highly reliable, secure and scalable cloud platform, Five9 makes it easy to rapidly trial and deploy new services. Its software also future proofs businesses by supporting AI and other emerging technologies.
Utilising cloud capabilities for improved customer experience
Offering software that creates more successful customer interactions, Five9’s cloud contact centre software increases contact centre productivity. This is without the capital expense and maintenance costs of premise-based systems.
Built on flexible architecture that adapts to a company’s changing needs, Five9 customers benefit from a secure, reliable and scalable contact centre.
Five9’s cloud contact centre platform also gives customers access to an extensive ecosystem of partners. Its platform can be enhanced with leading customer relationship management, analytics, workforce management, performance management solutions and telephony providers.
By utilising cloud technology, Five9 customers have access to the latest capabilities through no-touch, non-disruptive real-time upgrades.
Five9’s recognition for industry-leading software
As a leading cloud contact centre software provider, Five9 has been recognised by leading industry publications and organisations for its success and innovative solutions.
For the fourth consecutive year, Five9 has ranked as a global leader for The Aragon Research Globe for Intelligent Contact Centres 2021.
Five9 was also one of only three providers to earn the MetriStar Top Provider award when evaluated as part of Metrigy’s global 2021-2022 Workforce Optimisation and Engagement research study.
Five9: Zoom’s first major acquisition
Zoom Video Communications has agreed to buy Five9 for about $14.7bn, marking the company’s first major acquisition.
This deal with Five9 will help expand the company’s Zoom Phone offering.
“I believe the combination of Zoom and Five9 will be a game-changer. Joining forces will create a transformative opportunity for two strong companies with complementary capabilities and shared values,” said Five9’s CEO, Rowan Trollope.
With Zoom’s reach and brand, the acquisition will help Five9 propel forward and help the company deliver on its goal of significant international expansion