Forter is a software as a service (
SaaS
Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software.
SaaS is co ...
) company that provides fraud prevention technology for online retailers and marketplaces.
It has offices in
Tel Aviv
Tel Aviv-Yafo ( he, תֵּל־אָבִיב-יָפוֹ, translit=Tēl-ʾĀvīv-Yāfō ; ar, تَلّ أَبِيب – يَافَا, translit=Tall ʾAbīb-Yāfā, links=no), often referred to as just Tel Aviv, is the most populous city in the G ...
,
London
London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...
,
Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...
, and
New York
New York most commonly refers to:
* New York City, the most populous city in the United States, located in the state of New York
* New York (state), a state in the northeastern United States
New York may also refer to:
Film and television
* '' ...
; its headquarters are in New York.
History
The company was founded in 2014 by software engineers who formerly worked at
Fraud Sciences
Quahl ( ), formerly known as Initiative Q, was an attempt to create a new payment network and digital currency. It was created by Israeli entrepreneur Saar Wilf, who previously founded Fraud Sciences, a payment security company acquired by PayPal ...
,
which was bought and integrated into
PayPal
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers, and serves as an electronic alternative to traditional paper ...
in 2008. Before working at Fraud Sciences, the founders served in the Israeli Army's Intelligence unit.
Funding
Forter's funding includes a combined $100 million from
Sequoia Capital
Sequoia Capital is an American venture capital firm. The firm is headquartered in Menlo Park, California, and specializes in seed stage, early stage, and growth stage investments in private companies across technology sectors. , Sequoia's total a ...
,
Scale Venture Partners
Scale Venture Partners is an early-stage venture capital firm that typically leads Series A or Series B rounds. Over the last 20 years, Scale has made over 380 investments in Cloud, SaaS and Infrastructure companies, with over 159 exits, inclu ...
,
New Enterprise Associates
New Enterprise Associates (NEA) is an American-based venture capital firm. NEA focuses investment stages ranging from seed stage through growth stage across an array of industry sectors. With ~$25 billion in committed capital, NEA is one of the w ...
, March Capital Partners, and
Salesforce Ventures
Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides customer relationship management (CRM) software and applications focused on sales, customer service, marketing automation, a ...
.
Technology
According to specialists, the challenge to online retailers seeking to prevent online fraud is to be able to assess the customer's trustworthiness in real-time without blocking a legitimate sale or delaying it so long the customer abandons the purchase.
In its 2018 analysis of the online fraud detection and prevention, SaaS firms that included both established and newer firms (
SAS and
Feedzai
Feedzai is a data science company that develops real-time machine learning tools to identify fraudulent payment transactions and minimize risk in the financial services, retail, and e-commerce industries. The company has been classified as a u ...
, e.g.),
Gartner Group
Gartner, Inc is a technological research and consulting firm based in Stamford, Connecticut that conducts research on technology and shares this research both through private consulting as well as executive programs and conferences. Its clients ...
categorized Forter's technology as fraud analytics. This includes behavioral analysis of customers' established shopping patterns, soft linking (the ability to trace relationships between users even when no overt information is shared) and other techniques.
Forter offers clients the option of full restitution in the event of a
chargeback
A chargeback is a return of money to a payer of a transaction, especially a credit card transaction. Most commonly the payer is a consumer. The chargeback reverses a money transfer from the consumer's bank account, line of credit, or credit car ...
.
See also
*
Chargeback fraud
Chargeback fraud, also known as friendly fraud, occurs when a consumer makes an online shopping purchase with their own credit card, and then requests a chargeback from the issuing bank after receiving the purchased goods or services. Once approve ...
*
Internet fraud prevention
Internet fraud prevention is the act of stopping various types of internet fraud. Due to the many different ways of committing fraud over the Internet, such as stolen credit cards, identity theft, phishing, and chargebacks, users of the Internet, ...
*
EMV - Chip and PIN Credit Cards
References
{{Reflist
Software companies established in 2013
Companies based in Tel Aviv
Providers of services to on-line companies
Computer security companies
Online companies of Israel
he:פורטר (חברה)