Fingerprint Raises $33M in Series C Funding to Accelerate Enterprise Device Intelligence and Fraud Prevention AdoptionFingerprint Raises $33M in Series C Funding to Accelerate Enterprise Device Intelligence and Fraud Prevention Adoption
October 19, 2023
CHICAGO, Oct. 17, 2023 /PRNewswire/ -- Fingerprint, the world's most accurate device intelligence platform, raised $33 million in Series C funding led by Nexus Venture Partners with participation from Uncorrelated Ventures. Fingerprint aids developers in building device identification with flexible APIs capable of identifying fraudsters while ensuring low-friction experiences for trusted users. The Fingerprint platform leads with best-in-class accuracy, identifying 99.5% of returning users in less than 500 milliseconds of processing time. The new funding brings the company's total funding to $77 million.
"With the gradual death of cookies and proliferation of VPNs, high accuracy device identification has never been more important. Companies battle sophisticated attacks from online fraudsters while needing to ensure their trusted customers have a frictionless experience," said Dan Pinto, Fingerprint's co-founder and CEO. "Fingerprint solves this challenge for thousands of companies by enabling accurate device identification and providing additional signals to inform visitor intent without inconveniencing legitimate users."
Since its last round of funding in 2021, Fingerprint has seen significant growth stemming from its ease of integration, instant value for new customers via API and extensive documentation. Industry leaders like Dropbox trust Fingerprint to detect and block account takeover attempts, while Neiman Marcus relies on the same technology to create personalized experiences for its most valued customers.
"Fingerprint is becoming a modern utility for the internet economy to combat fraud," said Abhishek Sharma, Managing Director of Nexus Venture Partners. "Any business that processes online transactions or payments should use Fingerprint. Its device intelligence API helps high-scale websites and apps prevent fraudulent transactions. We're impressed by the product's ability to deliver 10x+ ROI for its customers consistently. We love Fingerprint's developer-focused go-to-market approach coupled with its ubiquitous open-source library, FingerprintJS. The company has commercially grown 20x over the past three years. It has a resounding product-market fit, from small businesses to large public companies. We're thrilled to triple down and further strengthen our partnership with Fingerprint."
Unlike other device identification methods, Fingerprint's persistent visitor identifier continuously improves and maintains accuracy, even as browsers are upgraded. Providing a complete view of all users across web and mobile devices — whether or not they are logged in or concealing their identity — enables companies to build superior frauddetection and user experiences. Companies use Fingerprint for a variety of use cases, including:
Protecting login pages from automated account takeover attacks and phishing attempts.
Preventing payment fraud of all forms for payment processors and eCommerce retailers.
Account sharing detection and prevention for SaaS and subscription services.
Securing cryptocurrency exchanges.
Building paywalls that can't be evaded by going incognito, changing IP addresses or clearing cookies.
Restricting access for bad actors in online gaming and gambling.
Fingerprint also makes it easy for any developer to get started with popular third-party integrations such as Cloudflare, Segment, CloudFront and many more. Additionally, Fingerprint partners with software vendors, including Dodgeball, Okta and Spec, to generate additional value for customers and increase customer retention.
The funding will enable Fingerprint to accelerate adoption within larger Enterprise customers, which have been a critical driver of the company's recent growth. Fingerprint aims to build new tools and capabilities to tackle the most complex challenges in device identification.
For more information on Fingerprint device intelligence, visit Fingerprint.com.
Fingerprint, powered by the most accurate device intelligence platform, enables companies to prevent fraud and improve user experiences. Fingerprint processes almost 100 signals from the browser, device, and network to generate a stable and persistent unique visitor identifier that can be used to understand visitor behavior. With a commitment to best-in-class data security and privacy, Fingerprint is proud to be ISO 27001 certified, SOC 2 Type II, GDPR, and CCPA compliant. Fingerprint is trusted by over 6,000 companies worldwide, including 16% of the top 500 websites, to help catch sophisticated fraudsters and personalize experiences for trusted users. Learn more at fingerprint.com.
About Nexus Venture Partners
Nexus Venture Partners is a venture capital firm that supports extraordinary founders in building product-first companies. The firm takes a high-conviction approach, serving as inception, seed, or series-A stage partner to founders, actively engaging with them throughout the company lifecycle. With $2.6B capital in management, Nexus portfolio includes Postman, Apollo.io, MinIO, Fingerprint, Nx, Druva, Observe.ai, Rancher, Pubmatic, Delhivery, H2O.ai, Hasura, Kaltura, Quizizz, Sibros, TileDB, Turtlemint, Unacademy, Zepto, and Zomato. For more information, visit www.nexusvp.com or follow @nexusvp on X.
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