MOUNTAIN VIEW, Calif., May 9, 2018 /PRNewswire/ -- DataVisor, the leading provider of fraud detection solutions using unsupervised machine learning, is steadily expanding in Asia, adding key customers in China and Southeast Asia. DataVisor's growth is fueled in part by a recent $40 million Series C financing round led by Sequoia China. The company is now protecting 3 billion users and accounts globally for customers of its fraud detection solutions.
DataVisor's growing presence in Asia comes as online fraud increases in the region, prompting greater interest in fraud detection solutions. Cyberattacks are considered one of the top five risks of doing business in Asia Pacific, according to the World Economic Forum's 2017 Global Risks Report.
"Fraud is on the rise in Asia, where there has been an explosion of online services and the digital population is growing rapidly," said Yinglian Xie, CEO and co-founder of DataVisor. "Giving enterprises better protection against fraud allows them to uphold the trust in their services and uphold the safety of their users – which is critical to their success and future growth. We're excited to be able to offer our fraud detection solutions to more businesses."
Rapid Customer Growth in Asia
In Indonesia, new customers include Tokopedia, one of the country's largest online marketplaces and creator of its own e-wallet service, TokoCash; and Traveloka, an airline and hotel booking platform that recently added bus transportation services. New customers in China include Toutiao, the country's largest mobile platform for content creation, aggregation and distribution; Ele.me, a online food delivery service recently acquired by Alibaba; and JD.com, one of the country's largest ecommerce companies.
Democratizing Unsupervised Machine Learning
With a $40 million Series C round of financing in February, DataVisor is expanding its global footprint in the fraud detection and prevention market, estimated to reach $41.6 billion by year 2022 according to research firm MarketsandMarkets.
DataVisor has also introduced UML Essentials, a new offering that allows growth-stage companies to benefit from DataVisor's unsupervised machine learning fraud detection at an affordable price. DataVisor enabled a dramatic reduction in costs by improving computational efficiency and automating the process of data integration, validation and mapping. With these new developments, businesses at all stages of growth can now test and deploy their DataVisor fraud solution, in the span of just a week.
Founded in 2013, DataVisor is the leading fraud detection solution utilizing unsupervised machine learning to identify application fraud, identity theft, spam and abuse, fraudulent transactions, app install fraud, money laundering and more. DataVisor's full-stack risk platform provides an end-to-end solution for detecting and preventing attacks by modern cybercriminals, and protects the largest financial institutions and internet properties in the world. The company is headquartered in Mountain View, Calif., with offices in Beijing and Shanghai. For more information, visit www.datavisor.com.