E-commerce security startup Forter lands $3M in funding from Sequoia Capital

[InfoSec News <alerts () infosecnews org>]

http://www.zdnet.com/e-commerce-security-startup-forter-lands-3m-in-funding-from-sequoia-capital-7000027705/

By Larry Barrett
Between the Lines
ZDNet News
March 25, 2014

Forter, an Israeli security startup that provides online retailers with 
real-time e-commerce fraud prevention services, secured $3 million in 
Series A funding from Menlo Park, Calif.-based venture capital firm 
Sequoia Capital.

In the wake of catastrophic security breaches at major retailers, 
including Target and Neiman Marcus among many, many others, retailers 
online and off are scrambling to find more holistic and comprehensive 
security applications and processes to safeguard their customers' credit 
and debit card accounts.

Forter's founders, including CEO Michael Reitblat, first became acquainted 
with the prowess of behavioral data and cyber intelligence technology as 
intelligence officers in the Israeli Defense Force, before they went on to 
start Fraud Sciences, a fraud prevention company that was eventually 
acquired by PayPal in 2008 for $169 million.

Forter's plug-and-play technology automates the review process by 
instantly analyzing customers' profile and behavioral data in real time 
rather than relying on customer-provided data—which is often easy to 
falsify -- to approve transactions.

[...]

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