E-commerce fraud prevention startup Forter Ltd. has raised $300 million in new funding to continue to expand its global ecosystem and hire more people.

The Series F round was led by Tiger Global Management. Other investors included Third Point Ventures, Adage Capital Management, Bessemer Venture Partners, Sequoia Capital, March Capital, NewView Capital, Salesforce Ventures and Scale Venture Partners. The round was raised at a valuation of $3 billion.

Founded in 2013, Forter offers real-time, automated fraud prevention solutions for online merchants. The company’s integrated fraud prevention platform is powered by a rapidly growing global network underpinned by predictive fraud research and modeling.

Giving customers the ability to tailor the platform for their specific needs, Forter processed more than $250 billion in online commerce transactions in 2020 and protected more than a billion consumers globally from credit card fraud, account takeover, identity theft and more.

Forter’s growth has been driven by partnerships, including a deal with Capital One Financial Corp. to launch Trusted Authorization. This solution enables merchants to increase authorization rates and decrease false declines by sharing Forter’s fraud insights with issuing banks to make more informed decisions.

The company also launched a fraud prevention platform for payment service providers, which included deals with FreedomPay Inc., Nuvei Technologies Inc. and Flutterwave Inc., to increase approval rates and fraud prevention to more than a million merchants globally.

The partnerships, along with a surge in online shopping during the COVID-19 pandemic era, has seen Forter deliver revenue growth more than doubling in the last 12 months on an undisclosed base. Notable customers include Farfetch Ltd., ASOS plc, SHEIN and Prime Trust.

“Forter’s platform brings together merchants, banks and payment providers to dramatically improve authorization rates, eliminate false declines and allow consumers to shop with greater convenience and enjoy a more personalized, secure experience,” Michael Reitblat, Forter’s co-founder and chief executive officer, said in a statement. “This transforms fraud prevention into a growth and revenue enablement engine for the entire consortium of participating merchants, ensuring our customers can attract, convert and retain the best shoppers.”

Including the new funding, Forter has raised $525 million to date, based on data from Crunchbase.

Image: Forter