Salesforce Ventures, the corporate venturing arm of enterprise software provider Salesforce, participated in a $300m series F round for US-based fraud prevention software developer Forter yesterday that valued it at $3bn.
Hedge fund manager Tiger Global Management led the round, which also featured Third Point Ventures, Adage Capital Management, Bessemer Venture Partners (BVP), Sequoia Capital, March Capital, NewView Capital and Scale Venture Partners.
Forter has built an online fraud prevention platform tailored for the e-commerce industry that encompasses protections for attacks such as credit card fraud, account takeover and identity theft. It recently established an office in Munich, Germany, and will focus on developing its presence in the country.
Michael Reitblat, co-founder and CEO of Forter, said: “The funding will enable us to accelerate our growth trajectory by investing in talent, technology and continued global expansion.”
The company has raised $525m since it was founded in 2013. BVP and Felix Capital co-led its $125m series E round in November 2020, investing with Sequoia Capital, NewView Capital, Scale Venture Partners, March Capital Partners, Commerce Ventures and Itai Tsiddon.
Forter had received $50m in a 2018 series D round led by March Capital Partners with participation from Salesforce Ventures, Sequoia Capital, Scale Venture Partners and New Enterprise Associates (NEA). The last three had provided $32m in series C funding for the company two years earlier.