Featurespace, the leading provider of Adaptive Behavioral Analytics software for Enterprise Financial Crime prevention, has raised £30 million ($37.4 million) from a funding round led by Merian Chrysalis Investment Company Limited.
The round also included further funding from a number of existing investors.
The funding will be used to support Featurespace’s continued growth.
Martina King, CEO, Featurespace, commented: “During these challenging times, our machine learning models have automatically adapted to the shift in consumer, business and criminal behavior. It is our continued focus to deliver industry-leading, fraud and anti-money laundering solutions to our customers and partners.
“We are grateful to our existing investors for continuing to invest in our growth and we are delighted to welcome Merian Chrysalis to our investment community.”
Richard Watts, Portfolio Manager, Merian Chrysalis, commented: “Featurespace has developed truly innovative technology and provides financial institutions with a world-class solution in the fast-growing fraud detection and prevention market. We are delighted to announce this fantastic addition to the Merian Chrysalis portfolio and we look forward to supporting the Featurespace team as they continue to grow and develop the business.”