IP Group put up $5.4m for Cambridge fraud detection spinout Featurespace’s latest round to bring the company’s overall funding haul to $70.9m.
Featurespace, a UK-based fraud detection technology spinout from University of Cambridge, secured £25m ($32.9m) yesterday in a round that included a $5.4m investment from commercialisation firm IP Group.
Investment firm Insight Venture Partners and VC fund MissionOG co-led the round, which also featured Highland Europe, TTV Capital and Invoke Capital, in addition to private investor Robert Sansom.
IP Group’s shareholding in Featurespace amounts to 23.9% at a valuation of $38.6m following the transaction, and the firm expects to book a $12.6m unrealised fair value gain for its portfolio.
Founded in 2008, Featurespace has built a fraud detection and risk management software platform called Aric Fraud Hub that applies adaptive behavioural analytics to high volumes of consumer interactions, helping to uncover irregular financial actions in real time.
Clients currently using the software include banks, payment processors, merchant acquirers, insurance providers and gaming organisations. Featurespace will put funds from…
