41st Parameter has raised $13 million in fresh capital to fuel research, development and further expansion.
Private equity firm Georgian Partners Capital joined current investors, including Kleiner Perkins Caufield & Byers, Jafco Ventures and Northwest Venture Partners, the vendor noted in an April 12 press release.
41st Parameter will use the money to improve FraudNet, a fraud-detection and prevention system, and grow AdTruth, its digital media device recognition division.
The company also is looking to expand its presence in Silicon Valley by attracting engineering talent and improving direct-sales operations and channel partners globally, 41st Parameter said.
"As electronic and online payment methods continue their rapid growth, there is, and will continue to be, a critical need to identify and stop fraud in the global ecommerce, banking and travel industries," Alan Naumann, chief executive at 41st Parameter, said in a news release.
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