CAMBRIDGE, England & ATLANTA & LONDON, May 14 (Bernama-BUSINESS WIRE) -- Featurespace, the leading provider of Adaptive Behavioral Analytics software for enterprise financial crime prevention, has raised £30 million ($37.4 million) from a funding round led by Merian Chrysalis Investment Company Limited.

The round also included further funding from a number of existing investors.

The funding will be used to support Featurespace’s continued growth.

Martina King, CEO, Featurespace, commented:

"During these challenging times, our machine learning models have automatically adapted to the shift in consumer, business and criminal behavior. It is our continued focus to deliver industry-leading, fraud and anti-money laundering solutions to our customers and partners.

“We are grateful to our existing investors for continuing to invest in our growth and we are delighted to welcome Merian Chrysalis to our investment community.”

Richard Watts, Portfolio Manager, Merian Chrysalis, commented:

“Featurespace has developed truly innovative technology and provides financial institutions with a world-class solution in the fast-growing fraud detection and prevention market. We are delighted to announce this fantastic addition to the Merian Chrysalis portfolio and we look forward to supporting the Featurespace team as they continue to grow and develop the business.”

ENDS

About Featurespace – www.featurespace.com

Featurespace™ is the world leader in financial crime risk management for fraud and Anti-Money Laundering. Featurespace invented Adaptive Behavioral Analytics and created the ARIC™ platform, a real-time machine learning software that risk scores events in more than 180 countries to prevent fraud and financial crime.

ARIC™ Risk Hub uses advanced, explainable anomaly detection to enable financial institutions to automatically identify risk, catch new fraud attacks and identify suspicious activity in real-time. More than 30 major global financial institutions are using ARIC to protect their business and their customers, including 4 of the 5 largest banks in the UK. Publicly announced customers include HSBC, TSYS, Worldpay, RBS NatWest Group, Contis, Danske Bank, ClearBank and Permanent TSB.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20200513005249/en/

Contact

Media Inquiries
Rebecca Lewis, Featurespace
Head of Marketing
Rebecca.lewis@featurespace.com
+44 (0) 7841 206976

Michael Touchton, Featurespace
PR and Communications Manager
Michael.touchton@featurespace.com
+1 (423) 364-5491

Source : Featurespace

--BERNAMA