Forter


Forter is a software as a service company that provides fraud prevention technology for online retailers and marketplaces. It has offices in Tel Aviv, London, Singapore and New York; its headquarters are in New York.

History

The company was founded in 2014 by software engineers who formerly worked at Fraud Sciences, which was bought and integrated into PayPal in 2008. Before working at Fraud Sciences, the founders served in the Israeli Army's Intelligence unit.

Funding

Forter's funding includes a combined $100 million from Sequoia Capital, Scale Venture Partners, New Enterprise Associates, March Capital Partners and Salesforce Ventures.

Technology

According to specialists, the challenge to online retailers seeking to prevent online fraud is to be able to assess the customer's trustworthiness in real-time without blocking a legitimate sale or delaying it so long the customer abandons the purchase. In its 2018 analysis of the online fraud detection and prevention SaaS firms that included both established and newer firms, Gartner Group categorized Forter's technology as fraud analytics. This includes behavioral analysis of customers' established shopping patterns, soft linking and other techniques. Forter offers clients the option of full restitution in the event of a chargeback.

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