DataVisor, a US company and a global leader in online fraud detection and risk management software for financial services and digital commerce, today announced that it has secured a $40 million strategic growth investment led by Brighton Park Capital (“Brighton Park”), an investment firm that specializes in collaborating with software, healthcare, and tech-enabled services businesses. All major existing investors, including NewView Capital and GSR Ventures, also participated. The new capital will accelerate DataVisor’s global go-to-market strategy and drive further expansion at scale.
Founded by Yinglian Xie, PhD, and Fang Yu, PhD, who met while working on large-scale distributed systems at Microsoft, DataVisor’s Fraud and Risk Platform applies both business-specific rules and machine learning models to help users proactively identify fraudulent patterns and potential areas of vulnerability with high detection accuracy. Unlike signals, or single use-case point solutions, DataVisor’s holistic platform approach addresses risk at every touchpoint in the customer journey, helping fraud leaders, business users, and data analysts across the organization dramatically reduce fraud and friction. DataVisor has rapidly grown its diverse customer base to include many Fortune 500 financial services and e-commerce organizations globally, including DCI, NASA Federal Credit Union, Neo Financial, Galileo Financial Technologies, and Air Asia, and experienced 3x ARR growth in FY22.
“Digital innovation is not just transforming how consumers transact, but also how fraudsters leverage technology to identify and exploit exposures to data,” said Yinglian Xie, CEO and Co-Founder of DataVisor. “Businesses today need access to advanced technology to counter these sophisticated fraudsters, and to do so in a cost-effective manner. DataVisor’s platform approach allows organizations to adopt a cutting-edge fraud management solution that is effective, efficient, and delivers instant ROI.”
Xie continued, “Since founding DataVisor in 2013, our team has been keenly focused on developing a best-in-class platform that meets the holistic and comprehensive needs of customers around the world. Now is the right time to further scale our platform through a strong go-to market strategy, which is why we are thrilled to be partnering with Brighton Park. Their team of investment professionals not only has significant expertise in enterprise SaaS and fintech, but also broad industry connections and deep experience executing B2B and go-to-market strategies.”
“The proliferation of online financial services has been accompanied by an increase in frequency, scale, and success rate of fraudulent activity. As fraudsters have become more sophisticated, single use-case and rules-based systems are no longer working, and most AI-based fraud detection tools are not built for enterprise scale,” said Tim Drager, Principal at Brighton Park. “Yinglian and Fang have applied their world-class expertise in large scale AI systems to build a leading enterprise fraud and risk platform that addresses the sophistication and magnitude of these attacks, as evidenced by their exceptional customer roster. We are thrilled to partner with the team to help combat this growing global problem and accelerate the Company’s growth.”
This investment is the latest in a year of significant milestones for DataVisor. Read more about DataVisor’s significant product growth and expanded capabilities accomplished in 2022 here.
The addition of DataVisor builds on Brighton Park’s active cybersecurity portfolio, which currently includes Darktrace, Coralogix, and OPSWAT.