E-commerce fraud prevention company Forter has achieved a valuation of $3 billion following a $300 million Series F funding round led by Tiger Global Management.
Third Point Ventures, Adage Capital Management, Bessemer Venture Partners, Sequoia Capital, March Capital, NewView Capital, Salesforce Ventures, and Scale Venture Partners also participated in this funding, which has seen Forter’s valuation triple since its Series E round just six months ago.
Forter processes more than $250 billion in online transactions, safeguarding over a billion consumers worldwide against credit card fraud, account takeover, identity theft, and other threats. In the past year, the company has capitalized on the shift to online shopping prompted by the pandemic, doubling its merchant network and experiencing revenue growth of over 100%.
John Curtius, partner at Tiger Global Management, stated, “In light of the rapid digital transformation and the intense competition to deliver seamless user experiences, effective fraud prevention is increasingly vital for driving e-commerce revenue growth. After speaking with numerous customers across relevant solutions in this sector, it became evident that Forter is the leader in performance and scalability.”