Arbor Ventures leads $7.5m seed round in e-commerce fraud prevention firm NS8

Photo: NS8 website

US-based e-commerce fraud prevention solutions firm NS8 has raised $7.5 million in a seed funding round led by early-stage venture capital firm Arbor Ventures.

The round was joined by existing investors TDF Ventures and Hanna Ventures, the startup said in a statement.

Bringing its total funding raised to over $8.75 million, the latest round will help fuel the startup’s expansion in North America, Western Europe and India, it said.

NS8 caters to e-commerce merchants using platforms such as Shopify, Magento, WooCommerce and PrestaShop. It claims to use behavioural analytics, real-time user scoring, and global monitoring to optimize and protect businesses from cyber threats.

Melissa Guzy, co-founder and managing partner at Arbor Ventures, said NS8 gives small and medium merchants complete online storefront protection with simple integration in just a few minutes. “NS8 are empowering the millions of small and mid-sized e-commerce merchants with solutions that have only been accessible for larger ones until today,” she added.

The company claims that the platform based online sales are expected to break $100 billion this year and it will lead to more awareness about active fraud prevention.

“Over the Black Friday/Cyber Monday Weekend alone, Shopify stores collectively sold a massive $1 billion in product, which only reinforces why we believe so strongly in the segment of the market we have chosen to pursue,” Adam Rogas, CEO of NS8, said.

Previous backers include Bloomberg Beta, Blu Venture Investors, NextGen Venture Partners and Hillcrest Venture Partners.

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