Sift Science, a San Francisco company that builds software to fight fraud online and recently opened a Seattle office, has raised a massive $53 million funding round.
The round is led by New York equity firm Stripes Group and investors include heavily funded Seattle startup Remitly. The investment doubles Sift’s lifetime funding to $107 million.
Some big-name customers like Airbnb, Zillow, and OpenTable, use Sift Science to identify bad actors by flagging risky or abusive behaviors before they commit fraud. The software helps e-commerce companies and other online brands reduce chargebacks, fraudulent transactions, and account abuse.
GeekWire last month reported on the company’s Seattle office, which is led by Matt Green, a former senior manager at Amazon who spent 17 years at tech giant. Sift said the office is already up to 14 people and growing.
In a LinkedIn blog post at the end of February, Green wrote that Sift Science aims to have at least 20 people at in Seattle by the end of the year, and by that time the office will own an entire product.
The company’s co-founders Jason Tan and Brandon Ballinger both have ties to the Seattle area as graduates of the University of Washington’s Paul G. Allen School of Computer Science & Engineering. Tan is Sift’s current CEO and Ballinger left in 2013.
