Automated fraud prevention company Sift Science has raised a $30 million Series C funding round. The investment was led by Insight Venture Partners. Prior investors Union Square Ventures and Spark Capital also participated in the round. The latest investment brings the company’s total funding to $54 million to date.
Sift Science uses a cloud-based machine learning platform, that, according to the company, is powered by 16,000 fraud signals updated in real-time, from activity across a global network of 6,000 websites. It says it helps customers deny over nine million fraudulent charges each year. Sift Science customers include Twitter, Airbnb, Yelp, and Twilio, according to a statement released by the company.
[Image courtesy: Sift Science]