FRISS is a cybersecurity firm established in the Netherlands, and the United States has raised $65 million (about €54.82 million) in a Series B round of funding.
Accel-KKR led the round, which was advised by FT Partners and backed by existing investor Aquiline Technology Growth.
The proceeds from this round will help FRISS with additional product innovations, make deep market penetration, and lines of business expansions.
Company: FRISS Fraudebestrijding B.V.
Round: Series B
Funding Month: June 2021
Lead Investors: Accel-KKR
Additional Investors: Aquiline Technology Growth.
Company Website: https://www.friss.com/
Software Category: analytics software for fraud>AI
About the Company: FRISS is an automated fraud and risk detection system for P&C insurance companies. The company provides AI-powered detection solutions for underwriting, claims, and Special Investigative Unit (SIU) has helped more than 200 insurers grow their business. FRISS was founded in 2006 by Jeroen Morrenhof and Christian van Leeuwen. Currently, the company serves insurers in over 40 countries and is on track to deliver over $2 Billion in fraud savings to insurers in 2021 alone.