Arkose News / Arkose People

With Trust Comes Greater Responsibility

March, 31, 20203 min Read

The Series B funding worth $22 million to Arkose Labs is the acknowledgment of the difference we are making in the fight against fraud. It's a proud moment for each of us in the Arkose Labs family

The latest round of funding—led by M12, the venture capital fund of Microsoft—is a significant milestone in our corporate journey. What we have achieved together as a team is truly amazing. Rarely does technology make a huge leap in a new direction, and merely to know someone close to you who made this happen-- that is stunning. When you are IN that amazing team yourself, the feeling is surreal.

Fortunate to be living this experience

I am so proud to be part of this achievement. I cannot stress enough how fortunate I am to be a part of this experience, for it's incredibly rare to live such a moment even once in a lifetime. To be honest, the realization is still sinking in.

Now that we are living this dream, we must make the most of this privilege and continue to change the trajectory of a serious and growing threat that literally has life and death consequences.

Digital opens up attack avenues

Digital has become the norm today and has permeated deeply into daily life. As a result, the vectors of online abuse are multiplying. With more and more businesses and consumers going digital, stopping fraud becomes critical. Businesses are fighting fraud and online abuse that costs them millions of dollars every year. Apart from financial losses, fraud takes an emotional toll on the businesses and consumers defrauded.

Fighting fraud to ward-off real-life threats

When we fight fraud successfully, we not only help businesses and consumers save significant money, we also stop huge personal disappointments like a drained gift card, a vendor tanked by false negative reviews, or someone scammed in online dating.

When we stop account takeovers, we help people ward off real-life threats. Account takeovers are real and a rising challenge that can shut down your bank account. In this time of quarantine, when consumers are increasingly ordering almost everything online, account takeover can take away the ability to shop online for critical supplies. Further, a compromised account when used for criminal activities can be a big threat. It can even become a vector for the kind of ransomware that hit hospitals hard just last year. When that happens in the age of COVID-19, that threat can cost human lives.

Continue to work for the greater good

The latest round of funding—powered by previous investors PayPal and USVP, in addition to M12—reflects the trust of our investors in our abilities. This entrusts us with a greater responsibility to continue with the good work we are doing and further build upon it.

We propose to use the latest investments to boost our efforts in research and development, which will further enhance our award-winning platform. We will also be able to invest in new talent for our global offices proposed in the EMEA, APAC, and LATAM regions.

To learn more about our Series B funding, please click here.