Total amount raised
$21 Million
Latest funding date
07/01/2023
Location
Trustmi has successfully raised funds through two significant funding rounds, with the latest being a Series A round. The company is backed by seven investors, including notable names like Cyberstarts and Zeev Ventures.
Trustmi's platform leverages Behavioral AI to protect against socially engineered fraud, analyzing anomalies across emails, financial systems, and controls. Keep reading to explore the intricacies of Trustmi's fundraising journey and the investors backing this innovative platform.
What Is Trustmi?
Trustmi is a cybersecurity company specializing in fraud detection and prevention. The company leverages Behavioral AI to protect businesses from socially engineered fraud by analyzing anomalies across emails, financial systems, and controls. Trustmi operates in the fraud detection, mobile payments, and payments industries.
Based in Tel Aviv, Israel, Trustmi has a workforce of 11-50 employees. The company also has locations in New York and Boston. Trustmi's platform is trusted by finance and security leaders for its transparency, protection, and efficiency in securing significant financial assets and streamlining payment processes.
How Much Funding Has Trustmi Raised?
- Series A
- Amount Raised: USD 17,000,000
- Date: July 2023
- Lead Investors: Cyberstarts, Zeev Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and expand Trustmi's end-to-end payments security platform, aiming to protect financial transactions from fraud and human error.
- Seed
- Amount Raised: USD 4,000,000
- Date: January 2021
- Lead Investors: Cyberstarts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at the early development and market entry of their product.
Total Amount Raised: USD 21,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Cyberstarts
- Details: Cyberstarts is a venture capital firm focused on cybersecurity startups. They have a reputation for backing innovative companies in the cybersecurity space.
- Investment Focus Areas: Cybersecurity
- Notable Investments: Fireblocks, Wiz, Axis Security
- Zeev Ventures
- Details: Zeev Ventures is an investment firm that focuses on early-stage technology companies. The firm is led by Oren Zeev, a prominent venture capitalist.
- Investment Focus Areas: Technology startups, fintech, cybersecurity
- Notable Investments: Houzz, Audible, TripActions
- Chen Amit
- Details: Chen Amit is the co-founder and CEO of Tipalti, a company specializing in payment automation. He has led Tipalti to become a significant player in the fintech space.
- Investment Focus Areas: Fintech, payment automation
- Notable Investments: As an entrepreneur, he has primarily focused on growing Tipalti.
- Assaf Rappaport
- Details: Assaf Rappaport is the co-founder and CEO of Wiz, a leading cloud security company. He has a strong background in cloud security.
- Investment Focus Areas: Cloud security
- Notable Investments: As an entrepreneur, he has primarily focused on growing Wiz.
- Eynat Guez
- Details: Eynat Guez is the co-founder and CEO of Papaya Global, a company specializing in global payroll and workforce management. She has led Papaya Global to become a major player in the HR tech space.
- Investment Focus Areas: Global payroll, workforce management
- Notable Investments: As an entrepreneur, she has primarily focused on growing Papaya Global.
What's Next for Trustmi?
Trustmi stands at the cusp of significant growth, with opportunities to expand its client base among Fortune 500 companies and other large organizations. The recent funding will enable the company to enhance its product offerings and broaden its market presence, capitalizing on the increasing demand for real-time fraud detection and prevention.
Future fundraising opportunities are likely as Trustmi continues to demonstrate the effectiveness of its solutions and secures high-profile clients. This could attract more investors and potentially lead to strategic acquisitions by larger fintech or cybersecurity firms. However, the company may face challenges in keeping up with rapidly evolving cybersecurity threats and competition from established players in the payment security space.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Trustmi and gather other critical business insights. Sign up for free and start leveraging these powerful tools today.
