Sift Science

Sift Science
Private
Industry Fraud_deterrence
Founders Jason Tan, Brandon Ballinger
Headquarters San Francisco, CA
Area served
 United States
Website www.siftscience.com

Sift Science is a fraud detection solution for websites and mobile applications. The platform utilizes large-scale machine learning to detect fraudulent users, activity, and transactions. Customers use the Sift Science Console to visualize an order's likelihood of fraud on a 100-point scale, known as the Sift Score, with the goal of reducing e-commerce chargebacks, fake accounts, and other types of online fraud.[1] The site also offers free resources and educational materials that introduce new online merchants to the aspects of e-commerce and risk management. Customers customize their Sift Science machine learning models based by adding custom data fields and events.[2]

History

Sift Science was founded June 1, 2011[3] and publicly launched its product on March 19, 2013.[4] The company cofounders, Jason Tan and Brandon Ballinger, are graduates of the startup accelerator Y Combinator,[5] known for its competitiveness and networking opportunities.[6] In 2014, Sift Science was named a big data company to watch in Fortune Magazine.[7]

In March 2014, Sift Science won the MRC METAward in the start-up category.[8]

In the summer of 2014, Sift Science gained greater attention in the web developer community with the publication of a blog post highlighting Seven Habits of Highly Fraudulent Users.[9][10]

Funding

Sift Science has received $53.6 million in four funding rounds.[11] The seed funding round of $1.6 million, raised September 1, 2011, included support from investors such as Marc Benioff, Max Levchin, Alexis Ohanian, and 7 others.[12] In 2013, Sift Science received $4 million in Series A funding, led by First Round and Union Square Ventures.[13] Led by Spark Capital, Sift Science received $18 million in Series B funding in April 2014.[14][15] The Sift Science Board of Directors includes representation from Spark Capital and Union Square Ventures.[16] In 2016, Sift Science raised $30 million in a Series C round led by Insight Venture Partners.[17]

Data Visualization

Sift Science has been recognized for its data visualization and intuitive user interface.[18]

Customers

A variety of websites use Sift Science to detect fraud. Online marketplace Listia uses Sift Science to reduce promotional credit abuse.[19] Sift Science lists Airbnb, OpenTable, Kickstarter, Match.com, Indeed, and JackThreads among its customers.[20]

Partnerships

Sift Science plug-ins are available on Shopify,[21] Magento,[22] and Miva Merchant[23] e-commerce platforms.

References

  1. ↑ "What is a Sift Score?". Sift Science. Retrieved 15 May 2015.
  2. ↑ Sriram, Sripad. "Custom Workflows to Match Your Business". Sift Science Blog. Retrieved 14 May 2015.
  3. ↑ "Sift Science". CrunchBase. Retrieved 14 May 2015.
  4. ↑ Perez, Sarah (March 19, 2013). "Ex-Googlers Launch Sift Science, A Fraud-Fighting System For Websites, Backed By $5.5M In Funding From Union Square, First Round, YC & Others". TechCrunch. Retrieved 14 May 2015.
  5. ↑ Farr, Christina (March 19, 2013). "Get in line: Investors flock to hot anti-fraud startup Sift Science". VentureBeat. Retrieved 15 May 2015.
  6. ↑ Levy, Steven (May 17, 2011). "Y Combinator is Boot Camp for Startups". Wired Magazine. Retrieved 15 May 2015.
  7. ↑ Noyes, Katherine (June 13, 2014). "These big data companies are ones to watch". Fortune Magazine. Retrieved 14 May 2015.
  8. ↑ Merchant Risk Council. "Jumio and Sift Science Named 2014 METAward Winners". GlobeNewswire. Retrieved 14 May 2015.
  9. ↑ Verdier, Christophe. "インターネットで不正行為を行うユーザーの特徴をグラフ化するとこうなる". Gigazine. Retrieved 14 May 2015.
  10. ↑ "Seven habits of highly fraudulent users". Hacker News. Retrieved 14 May 2015.
  11. ↑ "Sift Science". CrunchBase. Retrieved 21 July 2016.
  12. ↑ "Sift Science Funding Round Seed". CrunchBase. Retrieved 15 May 2015.
  13. ↑ Schubarth, Cromwell (March 19, 2013). "A-list investors pour $5.5M into Sift Science anti-fraud startup". Silicon Valley Business Journal. Retrieved 15 May 2015.
  14. ↑ Kolodny, Lora (May 14, 2014). "Sift Science Raises $18M to Stop Fraud Online — Even As Criminals Change Tactics". Wall Street Journal Blog. Retrieved 15 May 2015.
  15. ↑ "Sift Science". CrunchBase. Retrieved 14 May 2015.
  16. ↑ Tan, Jason. "Our next chapter". Sift Science Blog. Retrieved 15 May 2015.
  17. ↑ "Sift Science raises $30 million to predict and prevent fraud everywhere online". TechCrunch. Retrieved 19 July 2016.
  18. ↑ Twain. "Stripping Down the Gorgeous Sift Science Dashboard – Predictive Analytics Part 5". FusionBrew The FusionCharts Blog. Retrieved 15 May 2015.
  19. ↑ Schiller, Kristan (September 5, 2013). "Web Startup Sniffs Out E-Commerce Fraud" (August 2013). Entrepreneur Magazine. Retrieved 15 May 2015.
  20. ↑ "Sift Science". Sift Science. Retrieved 15 May 2015.
  21. ↑ "Total Fraud and Chargeback Prevention". Shopify Resources. Retrieved 15 May 2015.
  22. ↑ "Sift Science - Automated, Real-Time Fraud Detection". Magento Connect. Retrieved 15 May 2015.
  23. ↑ "Sift Science Fraud Detection by Sift Science". apps.Miva. Retrieved 15 May 2015.
This article is issued from Wikipedia - version of the 12/2/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.