nsKnox Raises $17 Million From Link Ventures, Harel Insurance and Existing Investors Including M12 and Viola Ventures to Meet Growing Demand for B2B Payment Security & Compliance Solutions
Summary
This funding will allow us to continue developing our platform for corporations and expand our services to banks.nsKnox works with some of the worlds largest enterprise companies, helping them to send and receive B2B transactions without the fear of fraud. Leveraging its patented Cooperative Cyber Security (CCS) and groundbreaking Bank Account Certificate technologies to secure both outbound and inbound payments from fraud, nsKnoxs solutions detect and prevent finance and ops infrastructure attacks, social engineering, business email compromise (BEC), insider fraud, and other Advanced Persistent Fraud attacks.The Companys PaymentKnox Payment Security Platform helps organizations avoid significant financial losses, heavy fines, and reputational damage by validating accounts anywhere on the globe, verifying the true entity of both sender and receiver, and preventing manipulations across every point of transaction - for both outgoing and incoming payments.The global fraud detection market is growing from paper to digital and has dramatically increased in recent years, especially since the onset of the pandemic, said Lisa Dolan, Managing Director, Link Ventures. With nsKnox, we have found a seasoned cyber security team who has developed a patented process that validates the ownership of any account in the world.We are excited by the potential of this investment both for us and for our customers since 3 out of 4 large corporations were hit by fraud in the last year, and this number is expected to grow in the near future, said Tomer Goldberg, Managing Director, Harel Tech. We help organizations avoid significant financial losses, heavy fines, and reputational damage.Leveraging its patented Cooperative Cyber Security (CCS) and groundbreaking Bank Account Certificate technologies, nsKnoxs solutions detect and prevent finance & ops infrastructure attacks, social engineering, business email compromise (BEC), insider fraud and other Advanced Persistent Fraud attacks.nsKnox offers an end-to-end technology-driven solution, the PaymentKnox Payment Security Platform, that integrates with the companys unique global account validation technology, master data security, and automated payment transaction scanning to eliminate the vulnerabilities of manual processes.Link Ventures (LV) is an early-stage venture capital firm investing in internet companies in the areas of financial services, digital healthcare, eCommerce, payments, media, and cyber security. LV partners with company founders and owners along with top executives within those industries and provides capital, proprietary deal origination, and operating expertise to the management teams.
Funding
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