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Posted October 18, 2016
San Jose, California – (October 18, 2016)
Mezzanine capital fuels EMEA and APAC expansion and operational scale for world’s largest digital identity network
ThreatMetrix®, The Digital Identity Company®, announced today a $30 million mezzanine growth capital round from existing partner Silicon Valley Bank, the bank of the world’s most innovative companies and their investors, bringing the company’s aggregate financing to $84 million to date. The growth capital round will be used to expand the company’s global data center footprint, fuel sales and marketing for new markets, and bolster business operations into 2017.
“We’ve achieved significant corporate milestones that signal the next growth phase in our trajectory as a SaaS company. I welcome the opportunity to expand our relationship with Silicon Valley Bank through this mezzanine funding that will open many doors for ThreatMetrix,” said Reed Taussig, CEO of ThreatMetrix. “We particularly want to thank Silicon Valley Bank for their continued confidence in our innovative digital identity solutions and growing customer base. There is a substantial unmet need for digital authentication solutions and ThreatMetrix is poised to capture this global demand with the increased capacity this financing provides.”
Jack Garza, Managing Director of enterprise software with Silicon Valley Bank, said, “Silicon Valley Bank focuses on helping innovative companies move bold ideas forward, fast. Operating at the intersection of innovation and capital, we believe in aligning our efforts with companies that possess a focused management team and clear corporate vision. ThreatMetrix delivers an entirely unique method of global, digital authentication that’s convenient, secure and removes consumer friction from the equation. And we’ve been particularly impressed with the recent fast growth of ThreatMetrix in the financial services sector.”
ThreatMetrix recapped first-half 2016 momentum in a July 2016 announcement:
“This mezzanine capital further strengthens our balance sheet at a very attractive cost of capital. It represents a major step forward for ThreatMetrix, particularly with our Asia expansion growth plans, extends our ability to serve the European market, and enables us to build new data centers serving our increasingly global and complex customer community,” said Frank Teruel, CFO, ThreatMetrix. “With this latest round of growth capital, we will continue to focus on delivering the industry-leading digital identity solutions our financial service, banking, e-Commerce and government sector customers expect.”
In addition to Silicon Valley Bank, ThreatMetrix is backed by some of the biggest names in tech and enterprise funding. Current investors include Adams Street Partners, August Capital, USVP, Tenaya Capital, and Talu Ventures.
ThreatMetrix®, The Digital Identity Company®, is the market-leading cloud solution for authenticating digital personas and transactions on the Internet. Verifying more than 20 billion annual transactions supporting 30,000 websites and 4,000 customers globally through the ThreatMetrix Digital Identity Network®, ThreatMetrix secures businesses and end users against account takeover, payment fraud and fraudulent account registrations resulting from malware and data breaches. Key benefits include an improved customer experience, reduced friction, revenue gain and lower fraud and operational costs. The ThreatMetrix solution is deployed across a variety of industries, including financial services, e-commerce, payments and lending, media, government and insurance.
Upright Position Communications