Fraud prevention and AML compliance firm SEON today announced raising $80 million in Series C funding, which brings the total raised by the company to $187 million.
The new investment round was led by Sixth Street Growth, with additional support from Hearst and previous investors Creandum, Firebolt, and IVP.
Founded in 2017, SEON leverages AI to analyze tens of millions of customer interactions each day and detect and block fraud attempts in real time. The company operates globally from offices in Austin, London, Budapest, and Singapore.
The company relies on more than 900 first-party data signals to deliver threat intelligence for multi-layered defenses, supports a multitude of analysis types, and provides transparency into decisioning.
Helping organizations remain compliant, the company’s comprehensive API-driven platform is used by thousands of companies worldwide, including known digital brands and fast-growing fintech, payments and iGaming firms.
SEON will use the fresh investment to advance its AI and real-time detection capabilities, hire new talent, and scale its presence across the APAC and South American regions.
Additionally, it will fuel its unified fraud and compliance solution’s integration, and will invest in deeper collaborations to embed its platform with financial institutions and cloud service providers.
“This investment allows us to continue serving the critical market need for fraud prevention and AML solutions that can scale at the speed of modern digital commerce. With global fraud losses exceeding billions annually, we are tackling a fundamental challenge facing businesses worldwide,” SEON co-founder and CEO Tamas Kadar said.
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