Online fraud detection startup 41st Parameter lands USD13 million

Being used by 75% of the world's top banks

Fraud detection and prevention company 41st Parameter has raised USD13 million in a Series D round from Georgian PartnersKleiner Perkins Caufield and ByersNorwest Venture Partnersand Jafco Ventures. The Scottsdale-based company’s core product is FraudNet, a service that helps to detect fraud across a number of industries, including finance and travel. The company says that as cybercrime and online fraud has increased, the demand for this product has risen and it is now being used by 75% of the world’s top banks and two-thirds of the largest airlines. 41st Parameter’s total funding is USD38 million.

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