Despite the cloud of the global pandemic, NS8 has continued to emerge as the fastest growing industry leader, with year-over-year revenue growth of 200 percent and a dedicated focus on aiding online vendors to make fraud decisions that protect their customers and their bottom line
FREMONT, CA: Online fraud prevention company NS8 raised USD 123 million in a Venture funding round led by Lightspeed Venture Partners and AXA Venture Partners (AVP). Proceeds from the latest investment round will help the company accelerate product development and expand its global reach with an increased focus on growing its vast partner network. Over the last year, NS8 has grown from 50 to over 200 employees and continues to hire across sales, engineering, marketing, and infrastructure.
"Online fraud prevention has grown rapidly due to the acceleration of ecommerce adoption by merchants and, with it, an increased threat of those seeking to attack online stores. Merchants of all sizes need to invest in security products to ensure a safe and secure online experience," said Bradley Twohig, Partner at Lightspeed Venture Partners. "NS8's platform allows its partners and their merchants to stand up a full-service fraud prevention hub, in a matter of a day, across almost every ecommerce platform. The time to value is simply best in class." Lightspeed's investment provides NS8 with access to the firm's expansive global network, as well as a team of operators and advisors to help navigate challenges, build world-class teams, and support the company's continued growth at all stages.
Despite the cloud of the global pandemic, NS8 has continued to emerge as the fastest growing industry leader, with year-over-year revenue growth of 200 percent and a dedicated focus on aiding online vendors to make fraud decisions that protect their customers and their bottom line. "Thanks to this investment from Lightspeed, AXA Venture Partners, and our full backing group, we can continue to scale to meet the growing demand for fraud prevention technology in the global marketplace," said NS8 CEO Adam Rogas. "This partnership positions NS8 to empower even more businesses with enterprise-level fraud defenses, regardless of size or industry."
AVP has prior experience in helping scale companies leverage differentiated technology and efficient business models to drive innovation in enterprise software, fintech, consumer, and digital health. "NS8 has built a market-leading fraud detection and prevention platform combining advanced data analytics with real-time scoring. NS8's rapid growth is a testament to the strength of the company's product, and the value NS8 delivers to its customers," said Alex Scherbakovsky, General Partner at AXA Venture Partners and NS8 board member. "We are excited to partner with Adam and the NS8 team to scale the business globally."