Total amount raised
$107.8 Millions
Latest funding date
4/1/2022
Location
SEON has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company specializes in online fraud prevention and AML compliance, offering advanced solutions to detect and stop fraud in real-time.
Keep reading to explore the intricacies of SEON's fundraising journey and the investors backing this innovative platform.
What Is SEON?
SEON, founded in 2017 by Bence Jendruszak and Tamas Kadar, is headquartered in Budapest, Hungary, with commercial headquarters in London, UK. The company specializes in online fraud prevention and AML compliance, offering advanced solutions to detect and stop fraud in real-time through transactional data analysis.
SEON's platform integrates machine learning and human intelligence algorithms to collect information about transactions and customers. It combines email verification, IP address analysis, and device fingerprinting to detect and report fraudulent activities.
With a team of 251-500 employees, SEON aims to help businesses maintain data security and eliminate fraudulent activities. Their solutions are trusted by companies worldwide, providing comprehensive protection against evolving fraud threats.
How Much Funding Has SEON Raised?
- Pre-Seed Round
- Amount Raised: €100K
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and validate the market need for fraud prevention solutions.
- Seed Round
- Amount Raised: €500K
- Date: February 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Seed Round
- Amount Raised: €1M
- Date: December 2019
- Lead Investors: PortfoLion Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
- Series A
- Amount Raised: €10M
- Date: March 2021
- Lead Investors: Creandum
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series B
- Amount Raised: $94M
- Date: April 2022
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand presence in North America, LATAM, and APAC regions, and enhance product functionality.
Total Amount Raised: $107M
Current Valuation: Not publicly disclosed
Key Investors
- IVP (Institutional Venture Partners)
- Details: IVP is a Silicon Valley-based venture capital firm specializing in later-stage investments. Partner Michael Miao will join SEON’s board.
- Investment Focus Areas: Technology, media, internet.
- Notable Investments: Twitter, Slack, Snap.
- Creandum
- Details: Creandum is a leading European early-stage venture capital firm. They are known for investing in innovative and fast-growing technology companies.
- Investment Focus Areas: Consumer, software, fintech.
- Notable Investments: Spotify, Klarna, iZettle.
- PortfoLion Capital Partners
- Details: PortfoLion is a venture capital and private equity firm based in Hungary. They provide funding to innovative companies in various stages of development.
- Investment Focus Areas: Fintech, healthtech, SaaS.
- Notable Investments: Tresorit, Bitrise, Starschema.
- Angel Investors
- Details: SEON has also attracted several angel investors from prominent tech companies. These investors bring valuable industry experience and networks.
- Investment Focus Areas: Early-stage tech companies with high growth potential.
- Notable Investments: Investments in their respective companies such as Aiven, Coinbase, DataDog.
What's Next for SEON?
SEON's future is brimming with opportunities, particularly in expanding its presence in North America, LATAM, and APAC regions. The exponential growth of online fraud, accelerated by the pandemic, has created a substantial demand for advanced fraud prevention solutions. SEON's plans to build partnerships with leading e-commerce platforms and enhance product functionality position it well to capitalize on this growing market.
Given the significant growth and recent funding, SEON may pursue additional funding rounds to support its ambitious expansion and product development goals. However, the company will need to navigate challenges such as keeping up with evolving fraud tactics, ensuring compliance with data protection regulations, and maintaining service quality during rapid growth. As SEON continues to innovate and expand, it may also become an attractive acquisition target for larger tech companies looking to bolster their fraud prevention capabilities.
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