nSure.ai Ltd., an Israeli predictive artificial intelligence fraud protection startup, announced that it raised $18 million in Series A funding to allow the company to extend anti-fraud, chargeback-free guarantees and meet the growing demand for its services.
The round was led by MoreTech Ventures, with DisruptiveAI, Gryffin Ventures, and Moneta Seeds also participating. NSure.ai has raised $25.4 million to date, including a round of $6.8 million in June.
Company: nSure.ai LTD.
Raised: $18.0M
Round: Series A
Funding Month: March 2022
Lead Investors: MoreTech Ventures
Additional Investors: DisruptiveAI, Gryffin Ventures, and Moneta Seeds
Company Website: https://www.nsureai.com/
Software Category: AI fraud protection
About the Company: Founded in 2019, nSure.ai provides a predictive AI fraud protection solution made for sellers of digital goods and services (such as gift cards, digital wallets & banking services, airline tickets, software, games, and more) that are attractive to fraudsters. nSure.ai uses advanced AI technology to provide merchants insurance-backed fraud detection for digital goods sales. These online sales areas traditionally suffer from high rejection rates, losing sales, and good customers. NSure.ai’s AI-driven Fraud Prevention Intelligence system continuously evolves along with the threat landscape to guarantee that all legitimate transactions are approved and that about 2% of fraudulent charges are kept out. The company has seen strong growth with a 500% increase in revenue in slightly over a year, though it didn’t provide absolute numbers. Notable customers include AXA S.A., Coda Payments Pte. Ltd., Kamet Ventures, Skytours-Online Inc., PayBis Ltd., and eTopupOnline.com LLC.
Source: https://siliconangle.com/2022/03/01/israeli-predictive-ai-fraud-protection-startup-nsure-ai-raises-18m/