Over the course of NS8's short four-year lifespan, we have experienced a hyper-acceleration of growth, going from 50 to over 200 employees within the last year. The latest phase of this growth comes as NS8 successfully closes $123 million in venture funding, led by Lightspeed Venture Partners and AXA Venture Partners.
This news means very exciting things for NS8, as well as our partners, employees, and customers. Here's a brief overview of our fraud prevention solution, what this news means for current customers, and what it means for NS8's future.
About NS8 and the NS8 solution
NS8 is an end-to-end fraud detection software allowing online merchants to secure transactions without negatively affecting conversions. We use advanced data analytics and real-time scoring to outsmart threats and approve more orders. This allows merchants to focus on growing their businesses without the fear of fraud. Our platform protects online companies in several key areas.
Order fraud protection
From device fingerprinting to behavioral analytics, NS8's scoring algorithm considers over 170 factors to determine whether a transaction is fraudulent. This unique and sophisticated scoring technology allows merchants to approve more orders with confidence, boosting conversions and customer satisfaction.
Ad fraud protection
As part of NS8's comprehensive fraud detection solution, our tools allow companies to recognize advertising fraud as well. NS8 identifies which ad campaigns are allowing bots to eat away at your budget and which ones are bringing in the best returns.
Site performance monitoring
Monitoring your site for alerts and abnormalities is key for a successful online business. With NS8's site performance monitoring capabilities, users can set alerts for unexpected downtime, certificate expirations, and other performance problems. These help to keep your site running smoothly and let you address issues before they affect your users.
Ecommerce platform integrations
To make fraud detection easy and accessible for as many users as possible, NS8 has integrated with several ecommerce platforms. These currently include Shopify, Magento, PrestaShop, WooCommerce, BigCommerce, and thirty bees. With the new funding, NS8 will continue to grow its network of ecommerce platform partners and make the product more accessible to users.
What this means for NS8 customers
Current NS8 customers may have already noticed improvements recently with the rollout of V2. With the new funding, customers can look forward to more product updates, additional extensions, and new capabilities.
Current users can also take comfort in the stability and longevity that this new round of funding brings. Leadership has NS8 on the right track to provide the best possible fraud detection solution to its customers for years to come.
What this means for NS8 and what is ahead for the company
So what's ahead? CEO of NS8, Adam Rogas says:
"Thanks to this investment from Lightspeed, AXA Venture Partners, and our full backing group, we can continue to scale to meet the growing demand for fraud prevention technology in the global marketplace. This partnership positions NS8 to empower even more businesses with enterprise-level fraud defenses, regardless of size or industry."
While NS8 has already experienced awesome growth in its young life, this investment allows the company to continue to accelerate product development and make significant hires in sales, engineering, marketing, and infrastructure.
With the investment from Lightspeed, NS8 will also gain access to the firm's network and team of advisors. This will be essential in helping NS8 navigate the unique challenges that can come along with hyper-growth.
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