Simility provides cloud-based and on-premise fraud detection software that prevents fraud and abuse in real time using machine learning, big data analytics and data visualization. The company serves enterprise customers across financial services, retail and payments, including a large e-commerce platform in Africa and global Fortune 500 financial services organizations, including top 50 U.S. banks. Founded in 2014 by CEO Rahul Pangam, Simility combines adaptive models and analytics to detect and block fraudulent activity. The company plans to use new funding to accelerate global expansion of its partner network, sales, partnerships, customer success and data science teams. Its core product is positioned for enterprise deployments across both cloud and on-premise environments. As of the article, Simility had raised $25M to date following the latest round. Simility’s Fraud Prevention Platform combines advanced machine learning, data visualization and a customizable rules engine to protect SMBs and enterprise clients. The platform empowers fraud analysts to adapt to evolving tactics without writing code. It has launched globally and is processing millions of transactions a day for customers on four continents, with reported fraud reductions of 50–300% for customers. Founded in 2014, Simility maintains offices in Palo Alto, California and Hyderabad, India. The company is backed by Accel Partners, Trinity Ventures and The Valley Fund and recently expanded its leadership with a VP of Product Management focused on product growth and India operations. Management says the company will use new funding to aggressively expand its team and customer base. Simility offers a cloud-based fraud prevention SaaS platform that blends machine learning with human analysis to spot and stop fraud. The highly customizable platform includes data-visualization tools that help fraud managers root out fraudsters without writing code. Simility protects SMBs and enterprise clients and has deployed a private beta in online marketplaces serving millions of people worldwide. In closed beta it has caught thousands of fraudsters; beta customers report a 50–200% increase in prevented fraudulent transactions per week while reducing false positives and saving operational costs. The founding team brings a combined 27 years of fraud-fighting experience from Google. Founded in 2014 and headquartered in Palo Alto, the company has hired data science, engineering and operations staff and opened new offices as it scales.

Total raised

$25M

Funding rounds

3

Latest round

Series B

Latest activity

Dec 2017