Fingerprint Secures $33 Million in Series C Funding from Nexus
- ByStartupStory | October 18, 2023
Fingerprint, the device intelligence platform, has successfully raised $33 million in a Series C funding round, with the primary investment coming from existing backer Nexus Venture Partners. Uncorrelated Ventures, an early-stage investor based in California, also participated in the round.
The Chicago-based company intends to utilize the funds to expedite adoption among larger enterprise clients, enhance its technology stack, and improve its product capabilities.
This funding round follows Fingerprint’s Series B round in 2021, where it secured $32 million in investment led by Craft Ventures and with participation from Nexus Venture Partners and Uncorrelated Ventures. To date, the company has raised a total of $77 million.
Fingerprint, established in 2019, offers a device intelligence platform that aids companies in combatting fraud and enhancing user experiences. It processes nearly 100 signals from the browser, device, and network to create a stable and persistent unique visitor identifier, facilitating the understanding of visitor behavior. Fingerprint offers developers the means to establish device identification through flexible application programming interfaces (APIs), which are capable of identifying fraudulent activities while ensuring smooth user experiences.
The company collaborates with approximately 6,000 businesses worldwide, including notable enterprises in India such as Tata Digital, Zee5, Junglee, and Park+.
“Fingerprint addresses the challenge of sophisticated attacks from online fraudsters by enabling accurate device identification and providing additional signals to inform visitor intent without inconveniencing legitimate users,” noted Dan Pinto, Co-founder and CEO of Fingerprint.
Abhishek Sharma, Managing Director of Nexus Venture Partners, added, “Fingerprint’s device intelligence API helps high-scale websites and apps prevent fraudulent transactions. The company has achieved substantial commercial growth over the past three years and has demonstrated a strong product-market fit.”
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Nexus Ventures, known for its early investments in companies like Snapdeal, Delhivery, Hasura, and WhiteHatJr, recently closed its seventh venture capital fund, Nexus Ventures VII, with a focus on India and the US. This fund, with $700 million raised, aims to support disruptive companies in AI, SaaS, fintech, and commerce. The firm has a history of supporting entrepreneurial ventures with progressively larger funding rounds over the years.
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