“Accertify Receives Funding from Intel Capital”
Santa Clara, CA (Accertify) – June 3, 2008 Accertify™, a provider of fraud prevention solutions to online retailers, announced today that it has received funding from Intel Capital, Intel’s global investment organization.
Accertify, based in Chicago, IL, will use the funds to expand its growing channel partners, marketing capabilities and continued focus on delivering Interceptas™, its innovative fraud platform, to leading e-commerce customers.
“E-commerce fraud costs U.S. retailers billions of dollars every year and the losses are growing by double-digit percentages,” said Sean Cunningham, director, Strategic Investments, Intel Capital. “Our investment will help Accertify deliver the Interceptas platform to a global market base and improve the opportunity for Accertify customers to reduce the cost of online fraud.”
“Accertify’s integrated solution is the first to address the entire problem of card-not-present (CNP) fraud. Our approach combines the latest fraud-fighting automation, data and services to build and operate the defense merchants need to protect their businesses,” said Jeff Liesendahl, CEO of Accertify. “This investment from Intel Capital has the potential to accelerate Accertify’s success in the marketplace.”
Accertify’s Interceptas solution is the industry’s first and only end-to-end solution for combating CNP fraud.
Interceptas helps merchants reduce their total cost of fraud by simplifying and combining all processes and procedures for fighting fraud into a single, easy-to-use platform. Interceptas automates manual processes and provides unmatched features and functionality, enabling retailers to gain control of their transaction data and stay a step ahead of fraudsters. As a result, merchants are able to scale their e-commerce businesses without fear of fraud and maximize revenues through improved fraud detection, fewer rejections of valid transactions and reduced charge-backs.
About Accertify
Accertify Inc. is the first company to focus on developing fraud prevention tools and strategies from the perspective of merchants that accept ‘card not present’ transactions. That focus led to the development of Interceptas which applies state of the art automation to every step in the merchant’s process of managing credit card fraud exposure. Accertify exemplifies a constant commitment to maintaining the best in fraud prevention strategies, and its management team combines complementary skills from fraud management, business software development, accounting and legal to assure that its customers receive the most comprehensive, cost-effective solution to credit card fraud available. Accertify is based in Chicago. For more information, visit www.accertify.com.
About Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing, and cleantech. Since 1991, Intel Capital has invested more than US$7.5 billion in approximately 1,000 companies in 45 countries. In that timeframe, 168 portfolio companies have gone public on various exchanges around the world and 212 were acquired or participated in a merger. In 2007, Intel Capital invested about US$639 million in 166 deals with approximately 37 percent of funds invested outside the United States. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
