Portugal-based big data analysis and fraud detection company Feedzai secured $17.5m on Monday in a series B round backed by investors including Sapphire Ventures, the venture capital firm affiliated with software producer SAP.
Oak HC/FT, a $500m fund established by Oak Investment Partners, led the round. which also featured Espírito Santo Ventures, a venture capital fund affiliated with financial services provider Novo Banco.
Feedzai provides real-time big data analysis aimed at reducing risk and preventing fraud facing payment providers, banks and retailers. The technology analyses transactions made online, on mobile devices and in store.
The series B funding will be used to expand Feedzai’s sales and engineering teams. The company’s customers include drinks maker Coca Cola, mobile network operator Vodafone and telecommunications equipment manufacturer Ericsson.
Sapphire and Data Collective previously invested in a $2.4m series A round raised by Feedzai in 2013. Energy utility EDP, Espírito Santo Ventures and Novabase Capital provided $2.3m in seed funding for the company in 2011.