A California-headquartered听provider of digital commerce protection听plans further UK growth after securing $205 million in funding.听
厂颈驳苍颈蹿测诲鈥檚听commerce protection and optimisation solutions听claim to听guarantee fraud protection against all chargebacks, including those resulting from consumer abuse.听
The company employs 100 people in the UK. It recently opened a larger London base and operates a听global听R&D听centre in Belfast.听
鈥淲e have significantly more than doubled revenues year on year in the region since opening the office in the UK back in October 2018,鈥� Ed Whitehead (below), Managing Director EMEA, tells 老九品茶Cloud.听鈥�Currently about 36% of the orders we see across our network are from EMEA.听
鈥�We have around 100 people across the UK, which includes our global R&D hub based out of Belfast, giving our European clients in time zone support across all the key functions including engineering, risk intelligence and data science as well as sales and customer support.鈥�听
Asked why the UK is a key market for听Signifyd, he replies:听鈥泪t is,听in itself,听one of the largest eCommerce markets globally and then when you factor in the rest of Europe it is right up there in terms of opportunity.听听
鈥�Plus听the payments landscape here is听really exciting听and changing rapidly with the introduction of the PSD2 legislation.鈥�听听
Rather than putting a specific figure on growth targets, Whitehead says the aim is to 鈥渏ust keep growing the team, keep growing the revenue and keep onboarding more fantastic clients鈥�.听
He adds: 鈥�We have just opened a new and bigger office in central London, we have the R&D听centre听in Belfast plus we have听a number of听people working remotely across the UK already.听听
鈥�We will continue to put our听鈥荣uccess听teams鈥�听where the clients are – and when we are able to get out and about again, we still find nothing replaces the energy and connection you can build by being with your clients face to face.鈥�听
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The Series E growth equity financing was听led by Owl Rock Capital, with participation by financial services provider FIS and investment management organizations Canada Pension Plan Investment Board (CPP Investments) and Neuberger Berman Investment Advisers.听听
Their investment values the company, which听was adopted by enterprise retailers such as Samsung, Lenovo, Lacoste,听Quiksilver and Mango听last year,听at听$1.34 billion.听听
Santosh听Marrivagu, head of UK & Ireland for popular mattress brand Emma, said: 鈥�In one of our strategically key markets we partnered with听Signifyd听in the midst of a once-in-a-century pandemic.听听
鈥淲ithin months,听Signifyd听was providing us with between 6% and 7% uplift. And we were serving customers better by making sure legitimate buyers were not being turned away.鈥�听
In 2020听Signifyd听tripled听its听team in Europe, while it听expects to hit a $200m听revenue run rate in the next year.听
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It says its latest听investors 鈥榩oint to strong pre-IPO credibility and momentum鈥�.听
鈥�Signifyd听is mission-critical infrastructure for a growing number of retail鈥檚 biggest and best-known brands,鈥� Owl Rock Managing Director Kurt Tenenbaum said.听听
鈥淭hey are poised to expand their position as the market leader in commerce protection just as rapidly shifting consumer preferences are driving an ecommerce inflection听point听we didn鈥檛 think we鈥檇 see for several years.听听
鈥淲e are excited about what the future holds for the company and are pleased to lead this investment and support the听Signifyd听team as they enter this next stage of strong growth.鈥�