Spec provides a platform that invisibly protects enterprises processing billions in online transactions by scanning the entire customer journey to identify threats and deploy active countermeasures. The company focuses on defending against modern, including AI-powered, attack tools that target online businesses. Led by CEO Nate Kharrl, Spec combines detection with exploit remediation to give customers increased visibility and control over attacks. The firm plans to use new funding to advance its platform capabilities, expand its threat labs R&D unit, and co-develop specialized products with partners. Spec closed a $15M Series A to fund these product and research expansions. The company emphasizes neutralizing attacker tools and tactics through its threat labs and partner collaborations. Spec (formerly SpecTrust) built a no-code platform, the Trust Cloud, to help enterprises fight fraud and abuse on their websites and platforms. The Trust Cloud deploys invisibly in front of any website or API and provides insights, automation, integration, and orchestration in minutes rather than months. Spec recently extended the platform with an Insights feature that automatically highlights trends like account takeover attempts, failed authentication challenges, repeat refund requests, and abandoned checkouts so teams can isolate emergent attack patterns or reduce friction for trusted users. The company says teams beyond fraud and security are using the platform, positioning it as a unified tool for cross-team workflows around trust. Spec was founded in 2020, is based in San Jose, Calif., and is led by CEO and co-founder Nate Kharrl. The company has raised a total of $8.8M to date. SpecTrust offers a no-code risk defense platform that unifies behavior, identity, history and risk data and is deployed between a website or app and its users. The company says the platform cuts 90% of a business’ risk infrastructure spend and enables responses in minutes instead of months, with identity behavior lookups now taking roughly five to seven milliseconds. Non-technical staff can use the system to identify attack behavior, verify identity information, validate payments and mitigate threats before they become losses. Founded by a team that ran risk management divisions at eBay and ThreatMetrix, SpecTrust aims to "fix the economics of fighting fraud" and is targeting financial institutions as well as fintech and crypto companies. The offering is designed to give fraud teams visibility over every user interaction without heavy engineering lift. SpecTrust is emerging from stealth with a public launch and a $4.3 million seed raise.

Total raised

$19M

Funding rounds

3

Latest round

Series A

Latest activity

Oct 2023