NS8, the eCommerce fraud prevention solutions company, announced today that it has raised $7.5 million in Series Seed round funding. Arbor Ventures led the round of financing followed by existing investors TDF Ventures and Hanna Ventures.
With this latest round bringing the firm's total funding to just over $8.75 million, this will help fuel NS8's strategic expansion of sales and support in North America, Western Europe, and India. NS8 has gained early traction in international markets by focusing on the existing, established eco-systems surrounding key supported platforms, such as Shopify, Magento, WooCommerce, & PrestaShop, and this latest raise represents a crucial opportunity to drive future product development.
"NS8 gives small and medium merchants complete online storefront protection with simple integration in just a few minutes," said Melissa Guzy, Co-Founder and Managing Partner at Arbor Ventures. "With their unique approach of DNS-based technology to prevent order fraud and monitor a store's technical performance, as well as reputation alerting solutions, NS8 are empowering the millions of small and mid-sized e-commerce merchants with solutions that have only been accessible for larger ones until today."
This latest expansion follows a year of sustained and consistent growth for the company, which launched its primary fraud prevention offering, NS8 Complete Storefront Protection in 2016. With platform based online sales expected to break $100 billion this year and Cyber Monday sales alone topping $6.59 billion, it is easy to imagine how this growing sales volume has led to a continued demand for active fraud prevention.
"Over the Black Friday/Cyber Monday Weekend alone, Shopify stores collectively sold a massive $1,000,000,000 in product, which only reinforces why we believe so strongly in the segment of the market we have chosen to pursue," explained Adam Rogas, CEO of NS8. "As the eCommerce market continues to expand, especially overseas, we see that the need for active fraud prevention only continues to grow as businesses discover new risks and encounter fraudsters, bots, and other hidden dangers."
NS8's flagship product, NS8 Complete Storefront Protection, safeguards site owners from advertising fraud, order fraud, and performance or reputational issues. It works by scoring site traffic and users to assess their potential risks for fraud, and it gives storeowners the tools to protect both their website and their business from a variety of different online threats.
"We met NS8 a few months after their launch and have had the chance to work with them on many fronts," said James Pastoriza, Managing Partner at TDF Ventures "We've been impressed with their technical depth, the product-market fit, and their team, so we think their tremendous growth since initial inception speaks for itself. As a result, we increased our investment in the latest financing, and we're excited to see their development in key market segments over the coming years."
About NS8
NS8 is an Arlington, Virginia-based eCommerce company that provides abuse, fraud, and user experience protection tools. NS8 uses behavioral analytics, real-time user scoring, and global monitoring to optimize and protect against threats, which give eCommerce merchants better and deeper insight into their real customers. Visit http://www.ns8.com to learn more.
About Arbor Ventures
Arbor Ventures is a global early-stage venture capital firm focused on shaping the way the world transacts by investing in early stage companies at the intersection of financial services, big data and digital commerce, through partnering with extraordinary founders, and accelerating the growth of next gen FinTech, facilitated by unparalleled strategic networks. For more information, visit http://www.arborventures.com.
About TDF Ventures
TDF Ventures is a venture capital firm that targets Series A stage start-ups. It focuses on Infrastructure, Software and Services (IaaS, SaaS, XaaS) which includes the technology required to build networks to the services those networks deliver. For more information, visit http://www.tdfventures.com.