Featurespace was created out of Cambridge University’s Engineering Department, co-founded by world-renowned experts in applied statistics, the late Professor Bill Fitzgerald and Dave Excell, Featurespace CTO.
Featurespace, the leading machine learning company for fraud prevention, has raised £16.5 million ($21.6 million) from a funding round led by Highland Europe, the venture capital firm that invests in growth businesses. Worldpay Group plc, a leading global payment processing company, and Invoke Capital also participated in the round as new investors. The round also includes further funding from existing investors including Touchstone Innovations plc, NESTA, TTV Capital and Robert Sansom. The funds will be used to support Featurespace’s international expansion and continued development of the company’s software capabilities. Featurespace’s real-time, ARIC™ platform uses Adaptive Behavioural Analytics to detect anomalies in individual behaviour for fraud and risk management.