Fraud Management Startup Secures $20 Million in Series B Round
CashShield, an online fraud management solution for mid- to large-sized enterprises, completed a $20 million Series B funding round led by Temasek and GGV Capital. Other investors in the round include Tony Fadell, Wavemaker Partners, and Tao Zhang.
Combining artificial intelligence and Wall Street high-frequency trading techniques, CashShield is designed to secure transactions and consumer accounts from cybercriminals without the need for human intervention. According to the company, online accounts can be sold on the dark web for 60 times more than a credit card number. The company’s unique technology strives to protect consumers’ data so it can’t be used once stolen.