NS8, a fraud prevention platform, closed a $123 million Series A funding round.
The round was led by Lightspeed Venture Partners and AXA Venture Partners.
With the latest funds, NS8 will accelerate product development and expand its global reach with an increased focus on growing its vast partner network. The company has grown from 50 to over 200 employees within the last year, and hiring continues across sales, engineering, marketing, and infrastructure.
NS8 is a fraud prevention platform that combines behavioral analytics, real-time scoring, and global monitoring to help online businesses minimize risk. The company’s patented scoring technology provides actionable data about the type, quality, and trustworthiness of transactions, which businesses leverage to automate fraud management workflows to suit their individual needs.
“Online fraud prevention has grown rapidly due to the acceleration of ecommerce adoption by merchants and, with it, an increased threat of those seeking to attack online stores. Merchants of all sizes need to invest in security products to ensure a safe and secure online experience,” said Bradley Twohig, Partner at Lightspeed Venture Partners. “
“NS8’s platform allows its partners and their merchants to stand up a full-service fraud prevention hub, in a matter of a day, across almost every ecommerce platform. The time to value is simply best in class.”
Crowell & Moring served as legal counsel to NS8 in the fundraising transaction.
Image by Darwin Laganzon from Pixabay