Darwinium, a next-generation digital security and fraud prevention platform, has successfully raised $18 million in Series A financing. Led by U.S. Venture Partners (USVP), the funding round also saw participation from seed investors including Blackbird, Airtree Ventures, and Accomplice.
This latest funding brings Darwinium’s total investment to $26 million and will facilitate the expansion of its edge-based solution across global markets.
Darwinium’s platform addresses the increasing complexity of online fraud, providing businesses with a holistic view of their customers’ online experience by moving fraud detection processes to the customer’s network perimeter or ‘to the edge.’
Challenges in Online Fraud Detection
Online fraud detection is a challenge for businesses due to the evolving attack vectors and the need to maintain a smooth user experience. Traditional approaches, including API-based products, assess ‘moments-in-time,’ lacking the agility and context required to respond to evolving fraud. Darwinium aims to overcome these challenges with its innovative edge-based approach.
Darwinium introduces two key innovations to address these challenges:
- Edge-Based Detection: Darwinium moves fraud detection processes to the customer’s network perimeter, providing a continuous view of user behavior across digital touchpoints. By integrating with content delivery networks (CDNs) such as Cloudflare and AWS CloudFront, Darwinium offers real-time insights, allowing businesses to make informed decisions and act on intelligence dynamically, tailoring customer journeys based on trust and risk.
- SaaS-Based Data Protection: Darwinium employs a Software as a Service (SaaS)-based approach to managing sensitive customer data identities. It encrypts and anonymizes data on the edge, ensuring data security and privacy. Any analyzed customer data is stored within an organization’s infrastructure, with its own keys, streamlining compliance with regulations such as CCPA and GDPR.
Recognition and Adoption
Darwinium has been recognized as a Representative Vendor for Online Fraud Detection in the 2022 Gartner Market Guide for Online Fraud Detection. The platform has been adopted by leading companies worldwide across various industries, including fintech, eCommerce, financial services, and gaming/gambling.
Darwinium’s approach offers businesses a competitive advantage by providing a comprehensive and context-aware solution that simplifies risk management, streamlines fraud prevention, and enhances user experience.