Czech Republic-based ThreatMark, a leader in behavior-based fraud prevention, announced on Tuesday a $23 million (€22M) funding round to accelerate its global expansion and enhance its technology platform. The round includes $15M (€14.4M) from Octopus Ventures and Riverside Acceleration Capital (RAC), with an additional $8M (€7.6M) in a convertible note from Springtide Ventures Fund, bringing the company’s total fundraising to $37M (€35.5M).
CEO Michal Tresner expressed enthusiasm about the investment, calling it “a strong endorsement of ThreatMark’s position.” He emphasized that the funds will drive market growth in the UK and US, accelerate research and development, and bolster solution capabilities.
ThreatMark’s Behavioral Intelligence Platform leverages advanced AI and machine learning to monitor behavioral, device, and transactional data in real time, detecting and adapting to emerging fraud patterns. CTO Krystof Hilar described the platform as a comprehensive tool for security teams, offering powerful insights to combat sophisticated fraud schemes across digital channels.
Octopus Ventures Partner Paul Davidson praised ThreatMark’s recent growth, noting its potential to address the growing complexity of online banking fraud. RAC’s Jonathan Drillings highlighted ThreatMark’s proprietary technology as a game-changer for making fraud-fighting tools more accessible to financial institutions globally.
Board member David Marek, representing Springtide Ventures, commended ThreatMark’s progress since their initial investment in 2017, citing the company’s growing leadership in the U.S. and European markets.
With this funding, ThreatMark is poised to play a pivotal role in redefining fraud prevention for the financial sector.
Featured image: Credit: ThreatMark
