Feedzai

Feedzai is a data science company that detects fraud in omnichannel commerce.^[1] The company uses real-time, machine-based learning to analyze big data to identify fraudulent payment transactions and minimize risk in the financial industry.

Feedzai enables businesses to accurately analyze information to keep their customers’ data and transactions safe at any place in real-time. Customers use Feedzai’s software to reduce risks associated with banking and shopping, whether it’s in person, online or via mobile devices, by detecting fraud through deep historical and behavioral analysis of the organization’s data. According to Forbes, in Feb. 2016, Feedzai handles $1B per day in total payments volume.^[2]

History

Feedzai is founded by a team of aerospace engineers and data scientists ^[3] including Nuno Sebastiao, Pedro Bizarro and Paulo Marques. Feedzai is the first start-up to be created as a result of a program^[4] from Carnegie Mellon University to create new knowledge in the areas of ICT from Portugal through research and education.

Feedzai supports its global customer based from multiple offices, including Silicon Valley,^[5] New York City,^[6] London,^[7] Coimbra, Porto and Lisbon.^[8]

Recently, Entrepreneur Magazine named Feedzai one of the seven top startup companies spearheading the big data game by using data in innovative ways .^[9] The company and its services have also been recognized by Forrester as a company on the next wave of the future of machine learning.^[10] Gartner identified Feedzai as a cool vendor,^[11] and for online fraud detection^[12] and operational intelligence platforms.^[13]

Funding

Feedzai is backed by OAK HC/FT, Sapphire Ventures (formerly SAP Ventures), Capital One Ventures, Data Collective and other international investors. In May 2015, the company raised a total of $17.5 million in Series B financing led by Oak HC/FT along with existing investors: Sapphire Ventures and Espirito Santo Venture.^[14]

Oak HC/FT’s General Partner, Patricia Kemp,^[15] and Venture Partner Jonathan Weiner,^[16] co-founder of Money20/20 and former Head of Global Business Development for Google Wallet and Payments, serve on Feedzai’s board of directors.

Customers and Partners

Companies located in Europe, the Americas and Africa all over the world use Feedzai’s anti-fraud machine learning technology to keep commerce moving safely.^[17] Customers also consist of payment networks, processors, banks, retailers, and large financial institutions including First Data,^[18] the world’s largest payment processor that uses machine learning. Partnerships include those with Emailage,^[19] Socure,^[20] and Azul Systems.^[21]

References