Digital risk protection platform startup Memcyco Inc. revealed today that it has raised $37 million in new funding to fuel the global expansion of its agentless platform.

Founded in 2021, Memcyco was built to change how organizations protect themselves and their customers from online fraud and deception.

The company’s founders saw that traditional fraud defenses often reacted after an attack had already begun, leaving companies and users exposed during critical early moments. Instead, Memcyco focuses on real-time prevention and detection of digital threats with an aim to stop scams at the earliest possible stage before they can cause harm.

Memcyco offers a digital risk protection platform that is designed to defend against attacks such as digital impersonation, phishing and account takeover fraud. The platform gives enterprises the ability to see and intervene in scam campaigns as they unfold online, not just after they’re detected by legacy tools.

The platform can identify fake or spoofed websites, malicious links and other impersonation techniques that thieves use to trick users into handing over sensitive information.

Memcyco’s solution is agentless and offers real-time operation that doesn’t rely on client-side installations, allowing companies to deploy protection without adding friction for end users.

The platform continuously monitors digital channels and brand touchpoints to provide security teams with immediate insights into threats. the company says it enables rapid action to disrupt the discovered threats before attackers reach critical data such as login credentials or payment information.

The company’s technology also connects external impersonation activity to real customer exposure, including the ability to see which specific users have been targeted or affected by scam campaigns in real time.

“We are shifting the paradigm from reactive takedowns to proactive, real-time disruption,” said co-founder and Chief Executive Israel Mazin. “Our technology infiltrates the attack timeline, identifying the victim and the bad actor instantly to prevent damage before it starts.”

Memcyco has seen strong growth, including annual recurring revenue growing threefold year-over-year. The company’s platform has also prevented more than 3.4 million ATO attempts and mapped more than a half-billion device identities.

The Series A round was led by NAventures, E. León Jimenes C. por A and PagsGroup, with existing investors Capri Ventures and Venture Guides also participating.

“As both a customer and an investor, we have experienced how Memcyco enhances protection and streamlines processes,” said Joshuah Lebacq of NAventures. “Financial institutions are motivated to boost efficiency while safeguarding clients. Memcyco provided value by delivering clear, reliable insights and preventing issues before they arise, a unique solution in the market that strengthens our suite of digital safety tools.”

The new funding takes the total raised by Memcyco to $47 million.

Image: Memcyco