Sift Science

Sift Science
Private
Industry Fraud_deterrence
Founders Jason Tan, Brandon Ballinger
Headquarters San Francisco, CA
Area served
United States
Website www.siftscience.com

Sift Science is a fraud detection solution for websites and mobile applications. The platform utilizes large-scale machine learning to detect fraudulent users, activity, and transactions. Customers use the Sift Science Console to visualize an order's likelihood of fraud on a 100-point scale, known as the Sift Score, with the goal of reducing e-commerce chargebacks, fake accounts, and other types of online fraud.[1] The site also offers free resources and educational materials that introduce new online merchants to the aspects of e-commerce and risk management. Customers customize their Sift Science machine learning models based by adding custom data fields and events.[2]

History

Sift Science was founded June 1, 2011[3] and publicly launched its product on March 19, 2013.[4] The company cofounders, Jason Tan and Brandon Ballinger, are graduates of the startup accelerator Y Combinator,[5] known for its competitiveness and networking opportunities.[6] In 2014, Sift Science was named a big data company to watch in Fortune Magazine.[7]

In March 2014, Sift Science won the MRC METAward in the start-up category.[8]

In the summer of 2014, Sift Science gained greater attention in the web developer community with the publication of a blog post highlighting Seven Habits of Highly Fraudulent Users.[9][10]

Funding

Sift Science has received $53.6 million in four funding rounds.[11] The seed funding round of $1.6 million, raised September 1, 2011, included support from investors such as Marc Benioff, Max Levchin, Alexis Ohanian, and 7 others.[12] In 2013, Sift Science received $4 million in Series A funding, led by First Round and Union Square Ventures.[13] Led by Spark Capital, Sift Science received $18 million in Series B funding in April 2014.[14][15] The Sift Science Board of Directors includes representation from Spark Capital and Union Square Ventures.[16] In 2016, Sift Science raised $30 million in a Series C round led by Insight Venture Partners.[17]

Data Visualization

Sift Science has been recognized for its data visualization and intuitive user interface.[18]

Customers

A variety of websites use Sift Science to detect fraud. Online marketplace Listia uses Sift Science to reduce promotional credit abuse.[19] Sift Science lists Airbnb, OpenTable, Kickstarter, Match.com, Indeed, and JackThreads among its customers.[20]

Partnerships

Sift Science plug-ins are available on Shopify,[21] Magento,[22] and Miva Merchant[23] e-commerce platforms.

References

  1. "What is a Sift Score?". Sift Science. Retrieved 15 May 2015.
  2. Sriram, Sripad. "Custom Workflows to Match Your Business". Sift Science Blog. Retrieved 14 May 2015.
  3. "Sift Science". CrunchBase. Retrieved 14 May 2015.
  4. Perez, Sarah (March 19, 2013). "Ex-Googlers Launch Sift Science, A Fraud-Fighting System For Websites, Backed By $5.5M In Funding From Union Square, First Round, YC & Others". TechCrunch. Retrieved 14 May 2015.
  5. Farr, Christina (March 19, 2013). "Get in line: Investors flock to hot anti-fraud startup Sift Science". VentureBeat. Retrieved 15 May 2015.
  6. Levy, Steven (May 17, 2011). "Y Combinator is Boot Camp for Startups". Wired Magazine. Retrieved 15 May 2015.
  7. Noyes, Katherine (June 13, 2014). "These big data companies are ones to watch". Fortune Magazine. Retrieved 14 May 2015.
  8. Merchant Risk Council. "Jumio and Sift Science Named 2014 METAward Winners". GlobeNewswire. Retrieved 14 May 2015.
  9. Verdier, Christophe. "インターネットで不正行為を行うユーザーの特徴をグラフ化するとこうなる". Gigazine. Retrieved 14 May 2015.
  10. "Seven habits of highly fraudulent users". Hacker News. Retrieved 14 May 2015.
  11. "Sift Science". CrunchBase. Retrieved 21 July 2016.
  12. "Sift Science Funding Round Seed". CrunchBase. Retrieved 15 May 2015.
  13. Schubarth, Cromwell (March 19, 2013). "A-list investors pour $5.5M into Sift Science anti-fraud startup". Silicon Valley Business Journal. Retrieved 15 May 2015.
  14. Kolodny, Lora (May 14, 2014). "Sift Science Raises $18M to Stop Fraud Online — Even As Criminals Change Tactics". Wall Street Journal Blog. Retrieved 15 May 2015.
  15. "Sift Science". CrunchBase. Retrieved 14 May 2015.
  16. Tan, Jason. "Our next chapter". Sift Science Blog. Retrieved 15 May 2015.
  17. "Sift Science raises $30 million to predict and prevent fraud everywhere online". TechCrunch. Retrieved 19 July 2016.
  18. Twain. "Stripping Down the Gorgeous Sift Science Dashboard – Predictive Analytics Part 5". FusionBrew The FusionCharts Blog. Retrieved 15 May 2015.
  19. Schiller, Kristan (September 5, 2013). "Web Startup Sniffs Out E-Commerce Fraud" (August 2013). Entrepreneur Magazine. Retrieved 15 May 2015.
  20. "Sift Science". Sift Science. Retrieved 15 May 2015.
  21. "Total Fraud and Chargeback Prevention". Shopify Resources. Retrieved 15 May 2015.
  22. "Sift Science - Automated, Real-Time Fraud Detection". Magento Connect. Retrieved 15 May 2015.
  23. "Sift Science Fraud Detection by Sift Science". apps.Miva. Retrieved 15 May 2015.
This article is issued from Wikipedia - version of the 12/2/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.