Forter hits $3 billion valuation in major Series F raise

E-commerce fraud prevention venture, Forter, has raised $300 million in Series F funding led by Tiger Global Management, with participation from Third Point Ventures and Adage Capital Management.

Existing investors also participated, including Bessemer Venture Partners, Sequoia Capital, March Capital, NewView Capital, Salesforce Ventures and Scale Venture Partners.

Six months ago, Forter completed a $125 million Series E round.

It has now raised over $500 million of capital and almost tripled its valuation to $3 billion, whilst claiming to be the most valuable privately held company ever in the fraud prevention space.

It will use the additional funding to invest in talent and technology and to continue expanding its global ecosystem of retailers, e-commerce platforms, issuing banks and payment providers.

With COVID prompting a surge in digital channels and online business growth over the past year, false declines are on the rise. Here are a few false decline facts that you may not be aware of already: https://t.co/wASKgiqs65 | #FalseDeclines #FraudProtection #DigitalExperience
— Forter (@ForterGlobal) May 21, 2021

“We have set a new standard for trust in commerce. Forter’s platform brings together merchants, banks and payment providers to dramatically improve authorisation rates, eliminate false declines and allow consumers to shop with greater convenience and enjoy a more personalised, secure experience,” says Michael Reitblat, CEO and Co-founder, Forter.

“This transforms fraud prevention into a growth and revenue enablement engine for the entire consortium of participating merchants, ensuring our customers can attract, convert and retain the best shoppers.”

“With the unprecedented rate of digital transformation and the fierce competition in creating the slickest user experience, superior fraud prevention plays an ever more critical role in e-commerce revenue growth," says John Curtius, Partner at Tiger Global Management.

"After we talked with dozens of customers of every relevant solution in this space, it was very clear to us that Forter is the clear leader in performance and scale.”