Unit21, which helps businesses monitor fraudulent activities via a simple API and dashboard, raises $13M Series A

new.blicio.us Follow Oct 20, 2020 · 1 min read
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Unit21, a startup providing a no-code service that monitors for fraudulent activity online, has raised $13 million in funding. The San Francisco-primarily primarily based totally business enterprise says the cash will assist develop 26-worker Unit21’s product and distribution-centered control teams, bolster income and advertising and marketing efforts, and release in new industries.

Of the 3.2 million identification robbery and fraud claims acquired through the U.S. Federal Trade Commission in 2019, 1.7 million had been fraud-related. Consumers pronounced dropping greater than $1.nine billion associated with fraud complaints, an growth of $293 million from 2018. That’s consistent with a fashion recognized in a latest Javelin Strategy & Research study: Identity fraud victims’ out-of-pocket fraud charges greater than doubled from 2016 to 2018 to $1.7 billion.

Unit21, which became based in 2018 through former Affirm product supervisor Trisha Kothari, pursuits to defend corporations in opposition to suspicious interest via APIs and dashboards for detecting fraud, cash laundering, and different cross-enterprise risks. The platform gives over a hundred out-of-the-field system gaining information of and threshold-primarily based totally policies pushed through a case control system, and it presents reporting and experimenting equipment for large information analytics. Moreover, Unit21 integrates with merchandise from Jumio, Trulio, and Dow Jones, affording get right of entry to to such things as identification verification and record checking.

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