Darwinium Raises $18 Million for Edge-Based Fraud Prevention Tech

Darwinium, a San Francisco startup in the fraud prevention space, has nabbed $18 million in new capital to build technology to help businesses deal with the deluge of bots, scams and online abuse.

The company, which has roots in Australia, said the $18 million Series A round was led by U.S. Venture Partners (USVP).  Darwinium’s seed-stage investors Blackbird, Airtree Ventures and Accomplice also took new equity positions.

Since its launch in 2021, Darwinium has raised $26 million to work on a digital security and fraud prevention platform running on the perimeter edge.

The company is boasting that its platform combines digital security with fraud prevention to create a single view of customer journeys across the web, mobile apps and APIs and provide fraud analytics with customer journey orchestration tooling.

Darwinium argues that its unique integration point — running on the perimeter edge via Content Delivery Networks (CDNs) — gives businesses a continuous view of user behavior, from pre-authentication, through account creation, login, change-of-details, and payments, all via one deployment. 

“Moving fraud and risk decisions to the perimeter edge is privacy preserving and low latency. It also removes the reliance on ‘point-in-time’ API-based solutions that are vulnerable to exploitation via operational silos and disjointed risk assessments,” the company added.

Darwinium said customers are using its platform to separate human and bot traffic, add downstream context from upstream user behavior, protect customers from account takeover and identity spoofing, identify scams and social engineering behaviors, block content and promo abuse, and detect fraudulent payments.

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Last November, Darwinium announced a $10 million seed round and said its product had already been adopted by organizations in the banking, ecommerce, gaming, payments, and travel sectors.

The company is founded by Alisdair Faulkner, who previously founded and scored an exit with ThreatMetrix, a fraud detection firm that was acquired for $817 million in 2018.

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