- EverC announced a new investment and strategic partnership with Kroll via the & Opportunity Fund.
- The partnership will combine Kroll’s expertise in the risk and advisory space with EverC’s “transaction laundering” technology.
- Headquartered in New York and Israel, EverC was founded in 2008.
Risk intelligence and insights company EverC announced both a new investment and a new strategic partnership last week. The new investment and partnership come courtesy of Kroll via the & Opportunity Fund.
“Kroll’s exceptional reputation for thought leadership in the risk and advisory space is well-known over the world,” EverC CEO Ariel Tiger said. “Working so closely together offers a significant competitive advantage.” Tiger added that having Kroll as both an investor and as a partner would help EverC build its “global brand with innovative technology to help make ecommerce more safe, secure, and profitable for payment providers, platforms, and marketplaces.”
The amount of the investment was not disclosed, but ahead of the funding EverC has raised more than $61 million in equity capital, according to Crunchbase. Kroll is an independent provider of risk and financial advisory solutions, founded in 1972 and headquartered in New York. Kroll was acquired by Duff and Phelps in 2018. Duff & Phelps rebranded as Kroll in 2021.
The partnership between Kroll and EverC comes as demand grows for fraud detection and prevention tools that can keep up with the increased pace of cyberattacks and illicit ecommerce activity in the payments industry. Calling “transaction laundering” the modern-day equivalent of money laundering, EverC provides innovative solutions such as its MerchantView technology. MerchantView helps companies reduce and avoid fines, protect their brands, and remain compliant by helping them identify illicit transaction behavior. EverC also offers MarketView, a solution for marketplaces that automatically detects and removes false, illegal, and/or dangerous products.
Earlier this year, EverC announced that it had forged a strategic partnership with KPMG. The partnership will combine the financial advisory expertise of KPMG with EverC’s innovations in the ecommerce risk space to help companies grow while successfully managing risk. “As payments providers and marketplaces face an increasingly challenging threat landscape, they will seek ecosystem partners to provide innovative solutions and expert guidance to support their growth,” Tiger said.