SANTA CLARA, Calif., June 20, 2017 /PRNewswire/ -- Silicon Valley Bank (SVB), the bank of the world's most innovative companies and their investors, and In-Q-Tel, Inc. (IQT), the non-profit strategic investor that identifies innovative technology for the U.S. Intelligence Community (IC), hosted a pitch event for venture capital-backed startups to connect with investors, IC representatives, and leading companies and organizations in the artificial intelligence (AI) industry. Following pitches and panel questions, judges selected Feedzai, a leader in attainable AI for real-time risk management and fraud detection across banking and ecommerce, as the most innovative AI startup of 2017.
"We are at the forefront of an incredible opportunity with AI. This event proves how powerful it is to have entrepreneurs and VCs working together toward developing game-changing technologies," said Nuno Sebastiao, CEO and co-founder of Feedzai. "It's an honor to receive this award from such an impressive panel of experts, and I'm proud of the dedicated work of our growing team that keeps Feedzai's innovation stream flowing day after day."
Founded in 2009, Feedzai's mission is to make commerce safe. Its technology is built using artificial intelligence that adapts with the detection of new malicious threats at scale, helping enterprise customers make data-backed decisions and de-risk commerce transactions in real time. Its investors include Sapphire Ventures, Oak HC/FT, Citi Ventures, Data Collective and others.
"The AI and machine learning space is attracting a wave of entrepreneurs and VC investments," said Tracy Isacke, managing director, Corporate Venture at Silicon Valley Bank. "These entrepreneurs are doing really exciting things and providing novel solutions to enterprise applications ranging from cybersecurity, business intelligence and operational optimization of data processing and compute workloads. Feedzai is using AI to help banks, payment providers and retailers manage the risks associated with banking and shopping, both digitally and in person."
The "Discovery Event," now in its sixth year, focused on the AI-powered enterprise. Twelve startups, selected from more than 70 submissions, presented their business ideas to a panel of executives. Those judging included executives from FireEye, Intuit, IQT, Lockheed Martin, Microsoft, NVIDIA, Silicon Valley Bank, Symantec, the United Services Automobile Association, and others. The companies that pitched at the event include Agolo, Alation, AttackIQ, DataVisor, Mist, Osaro, Inc., Pilot AI Labs, SigOpt, SlashNext, Veriflow, and Waterline Data.
"We were very impressed with the 70+ nominations submitted for this event, which makes this a notable win for Feedzai," said George Hoyem, managing partner, Investments at In-Q-Tel. "The lineup of companies applying real artificial intelligence and deep learning towards enterprise focused applications is indicative of a very large tech trend in this area."
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
©2017 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB).
In-Q-Tel (IQT) is the non-profit strategic investor that accelerates the development and delivery of cutting-edge technologies to U.S. government agencies that keep our nation safe. IQT was established in 1999 with a distinct mission: to identify and partner with startup companies developing innovative technologies that protect and preserve our nation's security. Visit www.iqt.org for more information.
Feedzai is AI. We're coding the future of commerce with the most advanced risk management platform powered by big data and artificial intelligence. Founded and developed by data scientists and aerospace engineers, Feedzai has one critical mission: make banking and commerce safe. The world's largest banks, payment providers and retailers use Feedzai's agile machine learning technology to manage risks associated with banking and shopping, whether it's in person, online or via mobile devices. Learn more about Feedzai at www.feedzai.com.
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SOURCE Silicon Valley Bank