Arkose Labs Stops 4.6 Billion Attacks and Doubles Revenue in Landmark Year for the Fraud Prevention Platform
Company Doubles Headcount and Plans Additional New Hires for 2021
In its ongoing mission to bankrupt the business of fraud, Arkose Labs reported a record year, tackling fraud and online attacks head-on. The company analyzed more than 15 billion online sessions in 2020, stopped 4.6 billion attacks and wasted 40 million hours of fraudsters’ time.
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Arkose Labs helped its customers navigate disruption and one of the downsides of the pandemic – a growth in online fraud. The company doubled its annual recurring revenue and brought on major brands like Honey, PayPal, CES and Minecraft as new customers across banking, fintech, ecommerce, digital media, gaming and technology.
Fueled by its 2020 series B funding round led by Microsoft’s Venture Fund, M12, with additional investments from PayPal and USVP, Arkose Labs focused on recruiting talent and investing in its technology to facilitate its significant growth.
Global Head of M12, Nagraj Kashyap noted, “Multiple Microsoft businesses are already benefiting from this innovative technology.” He added, “With Arkose’s end-to-end anti-fraud platform, enterprises across the globe can better protect against fraud and abuse long-term.”
The company doubled its headcount in 2020 and opened a UK office. It is committed to additional 2021 hires in North America, Australia and Europe. Key senior leadership hires included Mark Resnick (COO), Martyn McKean (CTO), Phil Steffora (CSO), Patrice Boffa (VP, Services), and Adrian Jenkins (VP, EMEA).
The Arkose Labs Fraud and Abuse Prevention Platform analyzed four times the amount of sessions in 2020 and saw transactions in 200+ countries. Its standout technology was recognized by Gartner, who named it a 2020 Cool Vendor in Fraud and IAM. The platform protects against automated and human-driven account takeover and new account fraud attempts; and an extensive list of abuse use cases such as inventory hoarding, web scraping, in-game abuse, carding, fake reviews and spam by eliminating malicious bot activity across digital platforms.
“2020 was one of the most testing times in our history. We are proud to have worked hand-in-hand with our customers, helping them navigate major fluctuations in consumer behavior and deal with fast-evolving fraud attacks,” said Kevin Gosschalk, CEO. “We have a clear mission at Arkose Labs to undermine the drivers of fraud, in order to make the world a safer place for end users and enable our customers to truly thrive in today’s digital-first world.”
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