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Simility

Acquiredby PayPal · June 2018 · $120M

Real-time fraud detection with no-code rules for analysts

  • Physical Security
  • Payments
  • Analytics
formerly simility.com

About

Simility built adaptive fraud prevention for banks, payment processors, ecommerce companies and marketplaces. Its beacons, APIs and SDKs collected signals from a customer's site and app, combined them with any other data feed, and ran self-optimizing machine learning models that decided around 99% of transactions automatically in real time, while giving fraud analysts a customizable workbench and no-code rules for the rest.

Rahul Pangam, Kedar Samant and Uttam Phalnikar, who had fought spam and fraud at Google and built enterprise software at Saba and Jive, founded Simility in Palo Alto in 2014. It raised $24.7M, including a $17.5M Series B led by Accel, and PayPal acquired it in 2018 for $120M.

Array invested in Simility's $3.5M seed round in August 2015, led by Accel.

Record

Stage
Series B
Category
Physical Security
Location
Palo Alto, California
Team
11-50
Total raised
$24.7M
Acquired for
$120M
Array came in at
Seed, 2015

Founders

  • Rahul Pangam

    Co-Founder & CEO

    Previously director of trust and safety at Google, where he founded its ads quality operations team covering payment fraud and policy enforcement; after Simility, VP of risk strategy at PayPal and now CEO of RapidCanvas.

  • Kedar Samant

    Co-Founder & CTO

    Previously led fraud operations platforms at Google for seven years; after Simility, a senior director of risk platforms at PayPal.

  • Uttam Phalnikar

    Co-Founder

    Previously a staff engineer at Jive Software and an architect at Saba; after Simility, a senior director of architecture at PayPal and now co-founder of RapidCanvas.

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