Using Machine Learning & Real-Time Data To Preempt Fraud

IDA Ireland - Smart CEO Global Cybersecurity Report 2018

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Sift Science, which counts Airbnb, Yelp and Jet as some of its key clients, uses insights from a global network of data and prevents fraud ahead of time. It counts its key differentiators to be its vast data access, its machine learning models, and real-time monitoring & reassessment of users accessing a company’s site

Sift Science is a California-based cybersecurity firm founded in 2011 by Jason Tan and Brandson Ballinger. In simple words, the company takes insights from a global network of data and prevents fraud ahead of time. Its core solution, the Sift Science Trust Platform holds a suite of fraud prevention products that eliminate every kind of fraud such as account takeover, payment fraud, content abuse, promo abuse and account abuse.

What makes Sift Science stand out from other platforms which operate in the fraud prevention space is its key features such as real-time monitoring, wherein when a user takes any action on the company’s site, the solution reassesses the user’s risk score and in case the user shows fraud attributes, it prevents an attack even before it is initiated. Secondly, the company’s machine learning models learn the fraud patterns specific to every business and provide accurate data, accordingly. Additionally, with Sift Science’s network size and global data accessibility, its machine learning models analyse data received from over 6,000 sites and apps from across the world and develop fraud prevention techniques. Lastly, the solution eliminates manual, tedious validation of users and instead provides accurate results of which users can be trusted.

Having deployed its solutions across e-commerce, marketplace and communities, travel, remittance, payment gateway and digital goods sectors (to name a few), some of the key clients it works with include Airbnb, Yelp and Jet.

On the funding front, the company has so far raised US $506.6 million up to Series D from notable investors such as Stripes Group, Insight Venture Partners, Spark Capital, Union Square Ventures and Founders Collective, to name a few.


Snapshot 

Category: Enterprise & Network Security 

Founded: 2011 

Founders: Jason Tan and Brandson Ballinger

Investors: Stripe Group, Insight Venture Partners, Spark Capital, Union Square Ventures and Founders Collective, to name a few.

Headquarters: California, United States

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