Forter Scores $125 Million Investment

NEW YORK –– Forter, a company that specializes in e-commerce fraud prevention, has raised $125 million in Series E funding. Led by Bessemer Venture Partners, Felix Capital and Itai Tsiddon, with participation from Sequoia Capital, NewView Capital, Scale Venture Partners, March Capital Partners and Commerce Ventures, the round values Forter at over $1.3 billion.

The new funding will allow Forter to accelerate its vision of establishing an ecosystem of trust across online merchants, banks and payment providers to block fraud and give consumers the trust and convenience to shop freely. The company plans to expand its suite of solutions and global data network, which has doubled in size over the last 12 months to exceed $200 billion in annual online transactions protecting over 800 million shoppers from credit card fraud, account takeover, identity theft, and more.

“We set out to create a global coalition of merchants, banks and payment providers that fight fraud together. We continue on our mission to expand the online network of trust and will continue investing in our platform in collaboration with our customers and partners,” said Michael Reitblat, CEO and Co-founder, Forter. “This year we have doubled our team across eight global offices, doubled our revenue and enjoyed our first cash flow positive quarter. The market traction we have experienced allows us to invest even more into our platform and drive more significant impact for our customers and partners. We will remain an independent company as we continue to grow our footprint across the commerce ecosystem.”

Forter’s real-time, fully automated fraud prevention platform is trusted by numerous top merchants from all commerce verticals including Nordstrom, Sephora, Priceline, Instacart and Adobe. The company’s global network provides a comprehensive view of both fraudulent and legitimate customer behaviors, allowing incredibly accurate fraud decisions with enhanced customer experience.

“Companies that can allow global organizations to safely embrace and accelerate their digital transformation and increase the lifetime value of their online consumers are invaluable as e-commerce continues to climb,” said Elliott Robinson, a partner at Bessemer Venture Partners. “Forter has turned fraud prevention into a business enabler by uniting the entire digital economy ecosystem to fight fraud together and let people shop safely.”

“Working with Forter has changed our approach to fraud management, drastically improving our approval rate, and helping build greater trust in our fraud capabilities,” said Kristina Blahnik, CEO, Manolo Blahnik. “We can now provide a more positive, seamless experience for our clients as well as strengthening our e-commerce; priorities which are paramount for Manolo Blahnik.”