Fingerprint Raises $33 Million in a Series C Funding With this round, the total funding of Fingerprint touches USD 77 million. It raised USD 4 million worth of seed funding in 2020, and a combined fund of USD 40 million in Series A and Series B in 2021.
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Fingerprint, an accurate device intelligence platform, announced it has raised USD 33 million in a Series C funding round led by Nexus Venture Partners. The start-up also saw investment participation from Uncorrelated Ventures.
The start-up which began as an open source project in 2012 helps companies to prevent fraud and improve user experiences with its flexible APIs that are capable of identifying fraudsters while maintaining low-friction experiences for trusted users.
"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. Fingerprint solves this challenge for thousands of companies by enabling accurate device identification and providing additional signals to inform visitor intent without inconveniencing legitimate users," shares Dan Pinto, co-founder and CEO, Fingerprint.
The platform has over 6,000 companies as its clients and boasts of identifying 99.5 per cent of returning users in less than 500 milliseconds of processing time. Some of its Indian clients include Tata Digital, Zee5, Junglee, and Park+.
"Any business that processes online transactions or payments should use Fingerprint. Its device intelligence API helps high-scale websites and apps prevent fraudulent transactions. We're impressed by the product's ability to deliver 10x+ ROI for its customers consistently. We love Fingerprint's developer-focused go-to-market approach coupled with its ubiquitous open-source library, FingerprintJS. 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," said Abhishek Sharma, Managing Director of Nexus Venture Partners.
Some of Fingerprint's offerings include protection of login pages from automated account takeover attacks and phishing attempts, prevention of payment fraud of all forms for payment processors and eCommerce retailers, account sharing detection and prevention for SaaS and subscription services, securing cryptocurrency exchanges, building paywalls that can't be bypassed by going incognito, changing IP addresses or clearing cookies, and restricting access for bad elements in online gaming and gambling.
"The funding will enable Fingerprint to accelerate adoption within larger Enterprise customers, which have been a critical driver of the company's recent growth. Fingerprint aims to build new tools and capabilities to tackle the most complex challenges in device identification," read the official release.
With this round, the total funding of Fingerprint touches USD 77 million. It raised USD 4 million worth of seed funding in 2020, and a combined fund of USD 40 million in Series A and Series B in 2021.