Confluent co-founder Neha Narkhede and former Meta engineering executive Sachin Kulkarni have introduced a new venture focused on enhancing the security of online transactions through real-time data and AI.
Named Oscilar, the startup offers an AI-driven platform that aims to significantly improve the safety of online transactions for both businesses and consumers within milliseconds.
Emerging from two years of stealth mode, Oscilar has been self-funded by CEO Narkhede and CTO Kulkarni, with an investment of $20 million. They have also recruited Karthik Ramasamy, who has extensive experience leading machine learning and fraud teams at Google, Uber, and LinkedIn.
According to Narkhede, “Customers expect every online transaction to be instantaneous and safe, but existing technology puts businesses and customers at significant risk and requires intense engineering support and overhead. Oscilar changes that. We’ve spent the past two years assembling a high-caliber team of engineers and data scientists to create a platform that uses AI to fully automate decisions about credit and fraud risk in milliseconds.”