US startup NS8 Inc raises $123 million financing to tackle online fraud

Las Vegas-based cybersecurity startup NS8 Inc has closed $123 million in venture funding to help it accelerate product development and expand its global reach with an increased focus on growing its vast partner network.

 The company has grown from 50 to over 200 employees within the last year, and hiring continues across sales, engineering, marketing, and infrastructure. The investment was led by Lightspeed Venture Partners and AXA Venture Partners (AVP).

Lightspeed's investment provides NS8 with access to the firm's expansive global network, as well as a team of operators and advisors to help navigate challenges, build world-class teams, and support the company's continued growth at all stages.

Bradley Twohig, Partner, Lightspeed Venture Partners: “Online fraud prevention has grown rapidly due to the acceleration of ecommerce adoption by merchants and, with it, an increased threat of those seeking to attack online stores. Merchants of all sizes need to invest in security products to ensure a safe and secure online experience. NS8's platform allows its partners and their merchants to stand up a full-service fraud prevention hub, in a matter of a day, across almost every ecommerce platform. The time to value is simply best in class.”

AVP has significant experience helping scale companies that leverage differentiated technology and efficient business models to drive innovation in enterprise software, fintech, consumer and digital health. With offices in North America, Europe, and Asia, AVP can also help NS8 accelerate its global expansion.

Alex Scherbakovsky, General Partner, AXA Venture Partners and NS8 board member: "NS8 has built a market-leading fraud detection and prevention platform combining advanced data analytics with real-time scoring. NS8’s rapid growth is a testament to the strength of the company’s product and the value NS8 delivers to its customers. We are excited to partner with Adam and the NS8 team to scale the business globally."

Throughout the recent global pandemic, NS8 continues to emerge as the fastest growing industry leader, with year-over-year revenue growth of 200 percent and a dedicated focus on aiding online vendors to make fraud decisions that protect their customers and their bottom line.

Adam Rogas, CEO, NS8 Inc: “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.”

www.ns8.com