Online Data Intelligence startup EverC secured $35 Million in Series B Funding


EverCompliant which is now rebranded as EverC, a New York City-based provider of online data intelligence to detect and prevent transaction laundering, has now secured $35 million in Series B funding round.

EverC is founded by Ron Teicher, Noam Rabinovich, and Raz Abramov in the year 2007. It is an electronic money laundering detection and Prevention Company that uses the AI and ML to assess and drive insights from millions of domains. The company has its offices in Shanghai and Tal Aviv.

Executive Opinion

Ron Teicher, EverC’s co-founder, and CEO, said, "Many types of serious criminal activities are trying to hide behind legitimate-looking facades that are very difficult to track and unmask, digital technology has made it easier for potential fraudsters to hide in plain sight. We believe that light is the best disinfectant and transparency and visibility are critical in doing business in the digital age. EverC aspires to be a source of confidence for organizations who facilitate payments online, providing them the tools, data, and insights needed to navigate risk and capitalize on new opportunities."

Barak Salomon, the Managing Partner at Red Dot Capital Partners, said, "As commerce moves increasingly online so does the crime associated with it. EverC is at the forefront of machine learning and AI research to develop technology that addresses a problem of epic magnitude, with a direct impact on the wellbeing of all of us".

EverC's Latest Funding

The round was backed by the Red Dot Capital Partners with participation from the Maor Investments and existing backers Viola Ventures, Joey Low, American Express Ventures, and Arbor Ventures.

Post funding, Barak Salomon, the Managing Partner at the Red Dot Capital Partners, will join the EverC, Board of Directors team.

The company as of now has plans to use the new funds to meet the demand from payment processors, banks, credit card companies, online marketplaces, payment facilitators, and law enforcement agencies.

PC: Pablo, Unsplash

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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