Featurespace raises £25m for international growth
Written by Peter Walker
Behavioural analytics specialist Featurespace has raised £25 million from a funding round led by venture US venture capital firms Insight Venture Partners and MissionOG.
The round also included further funding from existing investors including IP Group, Highland Europe, TTV Capital, Robert Sansom and Invoke Capital.
Investment will be used to support the fraud detection and risk management provider’s international expansion, software development and distribution of its ARIC platform.
Featurespace chief executive Martina King commented: “The additional funds will enable us to continue rapidly growing the business internationally by focusing on our products, our people and our customers.”
She added that the company has strengthened its senior management team and operational infrastructure, along with opening an office in Atlanta, Georgia.
“We have also grown our financial services customer base and now are working with 17 banks across continental Europe, the UK, US and Latin America,” King continued. “Equally important, we have become the technology partner of choice to a number of payment processors and merchant acquirers that have embedded our real-time fraud prevention technology in their anti-fraud solutions.”
Gene Lockhart, chairman and managing partner at MissionOG, commented: “Martina King, David Excell and team have built a dynamic culture that has led to a well-defined and successful market focus.
“Their efforts are evidenced by strong sales momentum with notable clients in various segments, including multinational banks, payments companies, issuer processors and merchant acquirers.”