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Forter

forter.com

Founded Year

2013

Stage

Series F | Alive

Total Raised

$525M

Valuation

$0000 

Last Raised

$300M | 2 yrs ago

About Forter

Forter provides a plug-and-play, anti-eCommerce fraud solution technology that automates the review process by instantly analyzing profile data, behavioral data, and cyber intelligence, enabling the ability to decline fraudsters and approve consumers in real-time.

Headquarters Location

575 Fifth Ave. 9th Floor

New York, New York, 10017,

United States

800-537-0601

Forter's Product Videos

ESPs containing Forter

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTHMARKET STRENGTHLEADERHIGHFLIEROUTPERFORMERCHALLENGER
Financial Services / Payments Tech

Fraud prevention platforms protect organizations and their customers from a series of online threats: illegitimate transactions, chargebacks, account hijacking, fake accounts, scams, and counterfeit products. These companies serve banks, fintechs, payment providers, online retailers and e-commerce marketplaces.

Forter named as Leader among 15 other companies, including NetGuardians, Signifyd, and Kount.

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Forter's Products & Differentiators

    Forter Payment Protection

    Forter’s Payment Protection platform provides accurate, real-time decisions for every transaction -- allowing more good buyers to make purchases while keeping fraud out. The Payment Protection platform includes solutions to help merchants deal with transaction fraud, phone fraud, and omnichannel fraud. Additionally, the platform offers solutions to help with PSD2 protection, Forter’s Trusted Authorization solution to connect merchants directly with issuing banks, and Forter’s 100% chargeback guarantee to erase chargeback costs from a merchant’s bottom line.

Research containing Forter

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Forter in 7 CB Insights research briefs, most recently on Oct 3, 2022.

Expert Collections containing Forter

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Forter is included in 10 Expert Collections, including E-Commerce.

E

E-Commerce

10,120 items

U

Unicorns- Billion Dollar Startups

1,201 items

P

Payments

2,460 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.

F

Fintech 250

999 items

250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.

T

Tech IPO Pipeline

568 items

C

Conference Exhibitors

5,302 items

Forter Patents

Forter has filed 1 patent.

The 3 most popular patent topics include:

  • Online payments
  • Payment service providers
  • Payment systems
patents chart

Application Date

Grant Date

Title

Related Topics

Status

1/8/2016

8/1/2017

Rules of inference, Data management, Information technology management, Transaction processing, Internet culture

Grant

Application Date

1/8/2016

Grant Date

8/1/2017

Title

Related Topics

Rules of inference, Data management, Information technology management, Transaction processing, Internet culture

Status

Grant

Latest Forter News

The impact of fraudulent account creation

Nov 29, 2022

The impact of fraudulent account creation The impact of fraudulent account creation Written by Kelly Chang, Senior Solutions Consultant, Forter As digital commerce continues its upward trajectory, businesses must commit to protecting themselves beyond just the checkout process. Digital commerce has continued its upward trajectory into 2022, with the industry expected to surpass $5 trillion annually for the first time. Australia Post’s 2021 eCommerce insights report stated that online consumers spent more than $62.3 billion on products in 2021. Additionally, 80 percent of Australian households visit and shop on eCommerce sites, increasing yearly national growth by 12.3%. With this growth, businesses have increasingly understood the need to have protections in place to fight fraud. The first place most businesses think to protect is the point of checkout (transaction), but latest trends have shown that fraud is no longer just a checkout problem. In 2021, new account fraud grew 109%, totalling $6.7 billion in the U.S. alone. Considering the impact of new account abuse, a 2021 Forrester report found that 26% of merchants saw a nearly 10% loss of revenue as a result. The data is clear – merchants can no longer focus solely on the point of purchase within the digital commerce journey when thinking about fraud protection, as it is just as important to consider the first touchpoint. Fraudulent account creation can lead to both fraud and abuse. On one hand, knowing that a platform is full of fake users can lead to distrust from the legitimate customer base. On the other, the business is impacted as these actors can gain financial benefit in making multiple accounts – impacting the reputation of the business. Let’s highlight some of the common issues tied to fake account creation. Sign Up Promotion Abuse As businesses look to bring in more customers, they often create incentives for sign-ups. Such incentives can be taken advantage of by bad actors, simply through making multiple accounts. In recent years, PayPal invested in a customer acquisition effort, offering promotions of $5 or $10 to any new customer accounts. Not long after this promotion was introduced, PayPal saw that bots and spam accounts were negatively impacting the program by taking advantage of these incentives. Without the ability to check the legitimacy of an account, businesses are falling victim to these same types of abusers. Advertising Advertisers rely on the number of users on social media platforms in order to determine where they will spend money. Generally, establishing an accurate number of real users is vital to forecasting future revenue streams for many businesses. When fake accounts are evident on a platform, not only can there be an economic impact, but growth of consumer distrust is also common. An example of this can be seen with the intended Twitter acquisition earlier this year. Twitter initially reported that less than 5% of accounts on the platform were spam, but upon further investigation, later disclosed that one million spam accounts are removed each day. With advertising being more than 90% of the company’s revenue, understanding how many users are fake, whether spam or bot, can greatly influence business forecasting. Fake Reviews As more and more users move online, fake reviews have proven to be quite profitable. Users rely on reviews to determine which businesses to transact with and businesses rely on good reviews to increase their customer base and grow revenue. Fake online reviews influence $791 billion of digital commerce spending annually in the US. That number is $6.4 billion in Japan, $5 billion in the UK, $2.3 billion in Canada and $900 million in Australia, according to a report from WeForm. One company that was found to have cashed in from false endorsements generated more than $5 million in sales, and later was ordered to pay $250,000 in charges as result. Protecting Your Customers As you can see, fake accounts can impact businesses of all kinds. Whether it’s impacting consumer trust, willingness to transact or resulting direct financial loss, the effect is net negative. When it comes to tackling fraud and abuse in digital commerce, validating transactions at the point of account creation, in addition to the point of checkout, should be a key focus. Join our Newsletter:

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Forter Frequently Asked Questions (FAQ)

  • When was Forter founded?

    Forter was founded in 2013.

  • Where is Forter's headquarters?

    Forter's headquarters is located at 575 Fifth Ave., New York.

  • What is Forter's latest funding round?

    Forter's latest funding round is Series F.

  • How much did Forter raise?

    Forter raised a total of $525M.

  • Who are the investors of Forter?

    Investors of Forter include Scale Venture Partners, NewView Capital, March Capital Partners, Salesforce Ventures, Sequoia Capital and 14 more.

  • Who are Forter's competitors?

    Competitors of Forter include ClearSale, Riskified, Sift, Signifyd, Feedzai and 11 more.

  • What products does Forter offer?

    Forter's products include Forter Payment Protection and 4 more.

  • Who are Forter's customers?

    Customers of Forter include TAG Heuer, SNIPES, Priceline, Delivery.com and Nordstrom.

Compare Forter to Competitors

Signifyd Logo
Signifyd

Signifyd combines machine learning with human work to eliminate online payment fraud for e-commerce companies. The company leverages big data, machine learning and domain expertise to provide a financial guarantee against fraud on approved orders that later turn out to be fraudulent.

Sift Logo
Sift

Sift Science provides real-time machine learning fraud prevention solutions for online businesses across the globe. Its machine learning software automatically learns and detects fraudulent behavioral patterns, alerting businesses before they or their customers are defrauded. Beyond this, the company has also launched a new set of products designed to detect and mitigate additional types of fraud and abuse, including: Account abuse, Content abuse, and Promo abuse.

NetGuardians Logo
NetGuardians

NetGuardians specializes in fraud and risk assurance enabling banks to target specific anti-fraud and regulatory requirements. NetGuardians was founded in 2007 and is based in Yverdon-Les_bains, Switzerland.

Arkose Labs Logo
Arkose Labs

ArkoseLabs provides online fraud prevention technology combining user risk assessment and enforcement challenges.

BioCatch Logo
BioCatch

BioCatch provides behavioral authentication and threat detection solutions for mobile and web applications. Available as a cloud-based solution, BioCatch proactively collects and analyzes bio-behavioral, cognitive and physiological parameters to generate a unique user profile. Banks, eCommerce websites, and mobile apps use BioCatch to significantly reduce friction associated with risky transactions and protect users against cyber threats, such as Account Takeovers, Man-in-the-Browser (MitB) Malware, and Remote Access (RAT) attacks. Additionally, BioCatch provides an enterprise tool that improves employee authentication experience while protecting access to critical IT assets.

DataVisor Logo
DataVisor

DataVisor is a developer of fraud and financial crime detection services, utilizing unsupervised machine learning combined with Big Data architecture to identify attack campaigns before they cause any damage.

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