Friday, June 14, 2024
HomeStart UpDevice intelligence platform Fingerprint raises $33mn in Series C funding 

Device intelligence platform Fingerprint raises $33mn in Series C funding 

Fingerprint, a startup that helps developers craft security solutions through device intelligence APIs, has secured $33 million in a Series C funding round. Nexus Venture Partners spearheaded this funding, increasing their total investment to $77 million. Uncorrelated Ventures also joined in.

The Chicago-based company emphasizes that this funding arrives as cookies dwindle and VPN usage surges, making precise device identification more critical. They claim to identify over 99.5% of returning users in under 500 milliseconds.

“With the gradual death of cookies and proliferation of VPNs, high-accuracy device identification has never been more important. Companies battle sophisticated attacks from online fraudsters while needing to ensure their trusted customers have a frictionless experience,” Dan Pinto, cofounder of Fingerprint, said in a news release. 

Globally, over 6,000 companies use Fingerprint’s services to safeguard their login pages from phishing and tackle various other issues. Payment processors and e-commerce retailers use these services to combat payment fraud.

Fingerprint has also entered the Indian market, with enterprises like Tata Digital, Zee5, Junglee, and Park+ integrating its solutions to combat fraud and abuse on their platforms.

“Fingerprint solves this challenge for thousands of companies by enabling accurate device identification and by providing additional signals to inform (them of) visitor intent without inconveniencing legitimate users,” Pinto added. 

This new funding will bolster the company’s expansion among large enterprise customers and help in developing tools to address complex device identification challenges.

“We’re impressed by the product’s ability to deliver 10x+ return on investment (ROI) for its customers consistently,” Abhishek Sharma, managing director of Nexus Ventures, said in the release. “The company has commercially grown 20x over the past three years. It has a resounding product-market fit, from small businesses to large public companies. We’re thrilled to triple down and further strengthen our partnership with Fingerprint.”

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BRL Editor
BRL Editor
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