Behavioral analytics company Featurespace has raised $9 million in funding in a round led by U.S.-based TTV Capital.
The venture round, which elevates Featurespace’s funding to $16.4 million, was augmented by support from existing investors Imperial Innovations Group, Nesta, Cambridge Angels and Cambridge Capital Group. The U.K.-based company plans to use the round to further expand to the U.S. market after striking recent deals with TSYS and an unnamed U.S. bank.
TTV Capital’s Managing Partner Gardiner Garrard comments, “This funding round is the first time we’ve invested in a mainland UK company, and reflects our support of Featurespace’s transformative fraud detection capabilities.”
At FinovateEurope 2016 Featurespace launched its ARIC Engine which monitors user behavior and leverages machine learning to determine suspicious, inconsistent transactions.
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