As Alloy grows into a multi-product platform for the full customer identity lifecycle, we can not only help make risk easier to understand, but also further industry innovation by making fintech products easier to build." "Identity and its associated risk isn't something businesses should be figuring out, it should just be something they install. "We want to make building a fintech product as easy as building an ecommerce product, and we're thrilled to have Lightspeed on board to help us do that," said co-founder and CEO Tommy Nicholas. With this extended capability, Alloy's API-based platform has started on the journey to creating customer identity profiles that can be used to prevent fraud and minimize risk future product expansions will incorporate richer data and risk signals to give financial institutions a full, 360-degree picture of their customers. Over the last year, what began as a platform used to automate onboarding identity decisions has grown to also include transaction monitoring. The new round of financing will be used primarily to further expand Alloy's product offerings to help fintech companies and banks combat fraud by building out a continuously evolving identity profile throughout a customer's lifecycle. Lightspeed Venture Partners' Justin Overdorff led the round with participation from existing investors Canapi Ventures, Bessemer Venture Partners, Avid Ventures and Felicis Ventures, bringing the company's valuation to $1.35 billion and the total amount raised to over $150 million. 30, 2021 /PRNewswire/ - Alloy, the leading identity decisioning platform for banks and fintech companies, today announced it has raised $100 million in Series C funding. As internet penetration increases along with the growth of smartphone market the fast burgeoning startup landscape is on a look out for investors that can trust them and build them.NEW YORK, Sept. The firms mentioned above have diversified investment strategy investing in domains like consumer and infrastructure. Besides, Helion Venture Partners, Kalaari Capital, Blume Ventures, Nexus Venture Partners, IDG Ventures are some of those who are planning a raise of their new funds. With this snaring of funds Silicon Valley based Canaan Partners was an exception that sold its India portfolio to JPMorgan. Accompanied it was Mayfield that raised $108Mn for its second India fund, Lighthouse that raised $125 Mn for its local fund, SAIF Partners with a raise of $350 Mn and Accel Partners that raised $305 Mn for its fourth India fund. Recently, Sequoia Capital raised $210 Mn fund to create the single largest pool of VC fund ever for India. It is expected that at least a dozen VC investors will raise close to around $3 Bn this year. The firm invested INR 31 Cr in Internet-first restaurant, FreshMenu and $5 Mn in local service startup, LocalOye along with Tiger Global Management.ΔΆ015 is retorted to see a rise in the venture capital fundraising in India. With the complete portfolio of over 200 investments till date, Lightspeed has invested in two startups in India this year so far. Bejul Somaia and Dev Khare led Lightspeed Venture Partner has invested in over quite a few startups like Vee, Crafstvilla, Limeroad, LocalOye, PhoneWarrior, ITzCash, Fashionana and Dhingana across advertising and media, business services, financial services, healthcare, education and retail domains. The firm generally invests $1 to $25 Mn in growth or early-stage startups seeking to disrupt or transform large markets in the domestic economy. Lightspeed Venture Partners has been investing in India since 2004 focusing on direct and cross-border businesses. Prior to this LightSpeed had raised $950 Mn last year in its 10th global flagship fund which was being used as the investment bank. Hence, the Lightspeed team is poised to fuel the startup ecosystem in India and is committed to invest in both consumer and enterprise technology. However, as Dev Khare, MD, Lightspeed, retorts that top 30 B2B software product companies in India are worth $6 Bn and employ nearly 20,000 people. Indian startups have raised over $1.7 Bn in Q1 of 2015 with only 12.9% raised by enterprise software company.
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