AI-based behavioural analytics firm Featurespace secures £25 million funding

AI-based behavioural analytics firm Featurespace secures £25 million funding

UK-based anti-fraud behavioural analytics firm Featurespace has raised a £25 million funding round led by New York VC Insight Venture Partners and MissionOG.

The round, which will be used to accelerate the company's international expansion, also included further funding from existing investors including IP Group plc, Highland Europe, TTV Capital, Robert Sansom and Invoke Capital.

Featurespace was created out of Cambridge University’s Engineering Department, co-founded by the late Professor Bill Fitzgerald and Dave Excell, Featurespace CTO.

The company's Aric platform combines adaptive behavioural analytics and anomaly detection to automatically identify risk and catch new attacks as they happen.

Featurespace currently counts 17 banks across continental Europe, the UK, US and Latin America as customers and also works with a number of payment processors and merchant acquirers that have embedded its real-time fraud prevention technology into their operations.

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