Data services provider LexisNexis Risk Solutions agreed yesterday to purchase Emailage, a US-based fraud prevention technology provider backed by IT services firm Wipro, for an amount reported by Reuters to be about $480m.
Founded in 2012, Emailage has developed a software product that uses machine learning and a dynamic data network to analyse email communications, issuing digital identity scores to customers in order to reduce risk from fraudulent email accounts.
The company will become part of the Business Services group at LexisNexis while its data network will inform the buyer’s existing Digital Identity Network.
The acquisition comes in the wake of $55.7m in funding for Emailage, which closed its series B round at $50m in June 2018. Wipro’s corporate venturing subsidiary, Wipro Ventures, joined Radian Capital, Mucker Capital and Tallwave Capital in the round’s $10m first tranche the year before.
The company had closed a $5.7m round in 2016 that was backed by Mucker Capital, Double M Partners and Felicis Ventures.
Rei Carvalho, Emailage’s CEO, said: “LexisNexis Risk Solutions is laser-focused on providing its customers a 360-degree view into an identity, which aligns with our mission to help customers who seek fast, low-friction, global digital identity fraud solutions to combat fraud without sacrificing consumer experience.
“We are thrilled to be recognised as a pioneer in email intelligence-based fraud risk scoring solutions and look forward to aligning our solutions to help organisations fight fraud on a more comprehensive level.”
