ThreatMark Secures $23 Million to Advance the Fight Against Online Fraud

[London, UK, January 7] ThreatMark, a leading innovator in behavior-based fraud prevention, has successfully closed a $23 million funding round.

The round includes $15 million from Octopus Ventures, one of the largest and most active venture capital investors in the UK and Europe, and Riverside Acceleration Capital (RAC), a US-based growth capital partner to B2B software companies, and an $8 million convertible note from Springtide Ventures Fund. Known for their extensive B2B Software expertise, Octopus Ventures’ and RAC’s equal contributions to the investment round, combined with the continued support from Springtide Ventures Fund, underscore a successful year for ThreatMark and highlights the strong confidence from investors in its mission to combat digital fraud.

New Partnership to Fuel Innovation

The $23 million combined investment marks a significant milestone for ThreatMark, founded in the Czech Republic. This capital will be used to expand market reach, including key regions like the UK and US, accelerate research and development, and enhance solution capabilities. These efforts will help ThreatMark to stay at the forefront of fraud prevention and provide even greater value to its customers.

“We are excited about this investment, which is a strong endorsement of ThreatMark’s position and will help accelerate our growth. We are committed to leveraging Octopus Ventures’ and RAC’s support to further our mission of protecting people and their transactions, as well as intensifying our efforts to disrupt fraudsters,” said Michal Tresner, CEO of ThreatMark.

Commenting on the investment decision, Paul Davidson, Partner at Octopus Ventures noted, “We’re delighted to be partnering with ThreatMark. The team has had a stellar 12 months of growth, and with our support, we’re confident they can continue to build on this momentum through expanding into the UK and US market. Online banking fraud is a huge and complex problem for the financial services sectors, one that requires an increasingly sophisticated approach to fraud detection. ThreatMark is set to play a progressively central role combating it.”

“ThreatMark’s team have a deep understanding of what it takes to fight fraud in the financial services sector,” said Jonathan Drillings, Partner at Riverside Acceleration Capital. “They’ve integrated that knowledge into proprietary technology that not only addresses the continually evolving nature of cyber threats but does so in a way that makes fraud-fighting tools accessible to a broader range of banks and financial institutions.”

“Springtide Ventures is a firm believer in ThreatMark’s mission and is very proud of the progress achieved since our initial investment in 2017. We are confident that this new capital infusion—reflecting investors’ strong confidence in the company and its founders—will enable ThreatMark to seize the increasing opportunities in both the U.S. and European markets, positioning the company as a leader in the fraud prevention space,” said David Marek, member of ThreatMark’s board of directors, representing Springtide Ventures, its largest shareholder. The addition of the $8 million demonstrates Springtide Ventures’ ongoing commitment to supporting ThreatMark’s growth and innovation.

Empowering Banks to Stay Ahead of Fraud

This major funding milestone highlights the market’s recognition of ThreatMark’s unique value and the growing demand for advanced fraud prevention solutions in today’s increasingly vulnerable digital landscape.

Over the past 12 months, ThreatMark has achieved impressive growth, with a year-over-year ARR increase of 75%. This latest investment brings the company’s total fundraising to $37 million since its founding, reinforcing its strong momentum in the fraud prevention space. With these achievements, ThreatMark is well-positioned to continue delivering innovative solutions and expanding its market presence.

As online banking fraud continues to surge, with global losses reaching $486 billion in 2023, ThreatMark has demonstrated its ability to tackle some of the most complex digital threats, including authorized push payment (APP) scams. Its innovative solutions empower financial institutions of all sizes —ensuring that mid-market institutions are as well-equipped to combat fraud as the largest global banks—positioning the company as a forward-thinking force in the market.

ThreatMark safeguards financial institutions against sophisticated online fraud schemes by harnessing advanced AI-driven technologies. Its platform continuously monitors behavioral, device, threat, and transactional data, detecting deviations that signal potential fraudulent activity in real time. “With powerful AI and machine learning capabilities, ThreatMark not only identifies known fraud patterns but also adapts to emerging threats, becoming more effective as it processes and learns from new data,” commented Krystof Hilar, CTO of ThreatMark.

explore our solutions here

*According to Nasdaq Verafin 2024 Global Financial Crime Report.