ForMotiv, a Philadelphia, US-based maker of a machine learning platform that promises to help companies in financial services and insurance spaces identify risky behavior, raised $6 million in a seed round. The funding is intended to help double the company’s workforce.
This round, led by Vestigo Ventures with participation from existing investor DreamIt Ventures, Plug and Play Ventures, and a few others, will help the company bring in some key hires to boost its growth.
Company: ForMotiv
Raised: $6.0M
Round: Seed Round
Funding Month: September 2021
Lead Investors: Vestigo Ventures
Additional Investors: DreamIt Ventures, Plug and Play Ventures
Company Website: http://formotiv.com/
Software Category: Behavioral Analytics software
About the Company: Formotiv is an end-to-end platform for reducing online risk and improving customer experience. Our solution measures end-user behavioral biometrics in real-time to detect future outcomes like fraud, delinquency, profitability, and abandonment as users engage with digital applications. ForMotiv delivers real-time user intent scoring by analyzing a user’s digital behavior while they physically engage with online forms and applications.
Source: https://technical.ly/philly/2021/09/28/formotiv-6m-seed-round/