Category: iovation

iovation secures $15 million

Portland-based iovation, the company with whom I hate to start sentences, has announced the closing of its latest round of funding. The round contains an additional $5 million follow-on from SAP Ventures and the brothers Samwer’s European Founders. The round is, well, rounded out by a promised $10 million from Intel Capital that was announced last November.

Mike Rogoway at The Oregonian‘s Silicon Forest blog reports:

SAP and European Founders both have good ties abroad, which Iovation [sic] is counting on to help the Portland Web security firm expand overseas.

iovation (argh!) says they “pioneered the use of device reputation for managing online fraud, abusive behavior and multi-factor authentication.” I say, they have stuff that helps online companies prove you are who you say you are and not some bot. But, easily the best description? “iovation exposes known fraudsters and abusers.”

One of Portland’s new breed of startup success stories, iovation been especially successful in areas where high traffic and small amounts of cash are in play, like online gaming and ecommerce, areas where spoofing and bots can result in millions of dollars of lost revenues.

Or, as I like to think of it: with iovation, the plots of Hackers and Office Space become completely implausible. (Please note: I refuse to listen to any comments that claim the plots of those movies were implausible prior to iovation.)

For more information, visit iovation.

(Hat tip Lisa MacKenzie)

iovation lands $10 million from Intel Capital

iovation, a Portland-based startup that focuses on combating online fraud—and which also allows you to begin sentences with a lower-case letter—has announced a new round of funding, led by a $10 million investment from Intel Capital. The total round sits at $15 million.

iovation, headquartered in Portland, Oregon pioneered the use of device reputation for managing online fraud, abusive behavior and multi-factor authentication. Today, iovation manages the reputation of millions of Internet-enabled devices worldwide, allowing its customers to control online fraud and abuse while benefiting from sharing device reputation intelligence. For more information on iovation and the company’s products, visit www.iovation.com.

(Hat tip Silicon Forest)

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