Featurespace CEO follows £25m funding round with award
It recently closed a £25million funding round and secured key new clients and now Featurespace’s stellar start to the year has continued with CEO Martina King being honoured at the Card and Payment Awards.
She was given an Industry Achievement Award, which is presented to an individual or team or who has had an influential impact.
The judges said: "While other companies provide machine learning and AI tools, Featurespace remains ahead of them all and Martina is the major influence behind this success.
“She has done a huge amount of work to drive adoption within the payments industry in the UK. I have no doubt that the whole payments community is behind this acknowledgement of her achievements."
The Cambridge company’s ARIC Fraud Hub, which uses artificial intelligence and machine learning to detect fraudulent activity in real-time, is now protecting 500 million consumers around the world, with companies including TSYS, Worldpay, Contis, Clearbank, Danske Bank, MIT and GoHenry among those using the technology.
In January, it confirmed international bookmaker SKS365 had become a client, while business consultancy everis chose Featurespace to protect banks across 16 countries.
The widespread adoption of Featurespace’s technology in the payments and gaming industries helped it raise £25million ($32.3million) in a funding round led by Insight Venture Partners, the New York-based global private equity and venture capital firm, and MissionOG, a US-based venture capital firm with experience in the financial services and payments industries.
Existing investors including IP Group plc, Highland Europe, TTV Capital, Robert Sansom and Invoke Capital also joined in the round, which will be used for further international expansion and development of the company’s software capabilities.
Martina said: “We have made tremendous progress over the last 15 months since our last fundraising – and this fundraise is the largest to date.
“The additional funds will enable us to continue rapidly growing the business internationally by focusing on our products, our people and our customers.
“Working very closely with our customers, we have developed a market-leading product to meet their fraud detection and prevention requirements.
“We have also significantly strengthened our senior management team and operational infrastructure, and opened an office in Atlanta, Georgia.
“We have also grown our financial services customer base and now are working with 17 banks across continental Europe, the UK, US and Latin America.
“Equally important, we have become the technology partner of choice to a number of payment processors and merchant acquirers that have embedded our real-time fraud prevention technology in their anti-fraud solutions."
Featurespace is the holder of AI Company of the Year from the 2018 Cambridge Independent Science and Technology Awards.
More by this authorPaul Brackley